WS #8399

The US-Iran conflict continues to escalate sharply, with multiple new developments in the last 30 minutes. Iran's IRGC claims it targeted a US airbase in response to US strikes near Bandar Abbas, and Iranian forces fired at four ships in the Strait of Hormuz. Kuwait is now under direct missile and drone attack, with its military responding. The Israeli military has begun striking Hezbollah infrastructure in southern Lebanon, and a soldier was killed in northern Israel. Oil prices are surging: US crude futures jumped 3.24% to $91.55/barrel, and Brent crude rose $3.01 to $97.30/barrel. Asian and European equity futures are declining, with the Hang Seng down over 2%, Eurostoxx 50 futures down 0.62%, and Nasdaq futures down 0.33%. The Australian dollar fell to a one-week low as Gulf hostilities heat up. In corporate news, a Google employee was charged with insider trading, and Braze raised FY2027 revenue guidance. The dominant theme is ESCALATING US-Iran conflict with geographic spread to Kuwait and a new front opening with Hezbollah, amplifying oil and defense sector implications. The Strait of Hormuz disruption is now active, with Iranian forces firing at ships, directly threatening global oil supply.