WS #7155
The Iran/Strait of Hormuz crisis continues to escalate, with multiple sources corroborating that Iran has restored 30 of 33 missile launch sites along the Strait and retains 70% of its prewar missile stockpile, contradicting earlier claims of degradation. Trump stated the Iran ceasefire is on 'massive life support,' and the Pentagon disclosed the war has cost $29 billion. US inflation jumped to 3.8% due to energy costs from the Iran war, as reported by BBC and Bloomberg. Oil prices remain elevated with Brent at $107.8 (+3.42%). Separately, Cerebras Systems is guiding its IPO above the marketed range, signaling strong demand for AI chips. JPMorgan filed for an Ethereum tokenized money market fund, following BlackRock's lead. The overall narrative is one of escalation in the Middle East conflict, with second-order effects on inflation, energy, and commodities.
Key developments
- Iran restores 30 of 33 missile sites along Strait of Hormuz; retains 70% of prewar missile stockpile
- US inflation jumps to 3.8% due to energy costs from Iran war
- Pentagon says US war on Iran has cost around $29 billion
- Cerebras Systems guiding IPO above marketed range amid soaring demand
- JPMorgan files for Ethereum tokenized money market fund after BlackRock