WS #8462
No material new developments in the last 30 minutes. The Strait of Hormuz crisis remains at an elevated state with no new incidents reported, and Dell's earnings beat continues to be the dominant positive signal. No counter-signals or de-escalation have emerged.
Key developments
- Iran fires anti-ship missiles at vessels in Strait of Hormuz; UKMTO assesses threat as 'critical'
- Dell Technologies Q1 earnings beat: AI server revenue up 757% YoY; stock surges ~30% after hours
- IEA warns of 1 billion barrel crude supply gap due to Hormuz blockade; oil prices elevated
- Japan's crude imports plunge 50% since Iran war; global oil inventories to fall below 100 days of demand
- Asian stocks to rise on firming US-Iran sentiment: Bloomberg Markets Wrap