WS #8677
No material new developments in the last 30 minutes. The Alberta wildfires and Iran negotiations remain the dominant themes, but no new data points have emerged. The narrative arc for oil supply risk remains ESCALATING, but no new signals to report.
Key developments
- Alberta wildfires disrupt 0.5% of global oil production
- Iran rejects Trump's MOU changes, will submit own revisions
- Saudi Arabia privately complained to US about UAE strikes risking Gulf energy infrastructure
- $1.26B IBIT block sale likely rapid exit by large investor