WS #8177

The dominant signal in this window is the escalating US-Iran peace deal narrative, with multiple sources corroborating high-level diplomatic activity in Doha. Iranian top negotiator Qalibaf and Foreign Minister Araghchi are in Doha to meet Qatar's PM, with discussions focused on the Strait of Hormuz and highly enriched uranium. Iran's central bank governor is also part of the delegation to discuss potential release of frozen funds. This follows Trump saying he told negotiators 'not to rush into' a deal, adding a note of caution. Oil prices have dipped below $100 despite the Hormuz closure, and TSX futures jumped on deal hopes. Separately, Saudi Aramco and Petronas announced transfer of full ownership of Prefchem to Petronas, a corporate development. Pope Leo XIV released an encyclical on AI, stating 'artificial intelligence needs to be disarmed,' which could impact AI sentiment. The US-Iran deal narrative is ESCALATING with concrete diplomatic moves, though Trump's caution tempers expectations. The Aramco-Petronas deal is a standalone corporate signal.