WS #7671

The dominant narrative remains the US-Iran de-escalation, which is STABLE with no new material developments. Multiple sources (Bloomberg, BBC, Mediaite) corroborate that Trump called off a planned strike on Iran, leading to a decline in oil prices: WTI crude opened $2.15 lower at $102.26/bbl and later fell to $107.12/bbl. Iran has requested a long-term ceasefire with international guarantees, and Iraq has asked Saudi Arabia to share attack info, indicating diplomatic channels are active. The UK's Andy Burnham committed to fiscal rules, calming gilt markets. A separate development: Elon Musk lost his lawsuit against OpenAI, with the jury siding with Sam Altman and Greg Brockman, which removes a legal overhang for OpenAI and Microsoft. The SEC is reportedly set to propose a tokenized stock framework, which could boost crypto-related equities. A tragic shooting at a San Diego mosque is noted but has limited direct market impact.