WS #7794
No material new developments in the last 30 minutes. The dominant narrative remains the Iran conflict and its second-order effects, with the Strait of Hormuz closure persisting but a potential de-escalation signal from the successful transit of three supertankers. No new data points or counter-signals have emerged to change the prevailing thesis.
Key developments
- Three supertankers successfully exit Strait of Hormuz, first transit in over two months
- EIA crude oil inventories fall by 7.86M barrels vs. -2.5M estimate
- Target Q1 earnings beat: net sales up 6.7% YoY, raised full-year guidance
- SpaceX IPO targeting up to $75B raise at $2T+ valuation
- Ukrainian drone strikes hit Russian oil refinery in Kstovo, causing fire