WS #8325

The dominant narrative remains the Iran conflict and oil supply disruption, with no de-escalation signals. However, new data points have emerged: oil prices dropped 2% on hopes of a US-Iran deal, while Dallas Fed President Logan warned of potential oil/gas supply shortages if the Strait of Hormuz remains blocked. The ECB warned of a sudden market correction, and French consumer confidence fell more than expected. On the corporate front, IREN secured a $1.6B hardware deal with Dell for NVIDIA Blackwell systems, and SK Hynix joined the $1 trillion club. SpaceX is preparing for a high-profile IPO with a unique lockup structure. The previous synthesis's key developments (Goldman target, SK Hynix/Micron milestones, ECB warning, Spanish police raid) carry forward as ongoing.