WS #9520

The dominant narrative is a major escalation in US-Iran hostilities, with multiple sources confirming a second round of US strikes on Iran, Iranian retaliation including closure of the Strait of Hormuz, and Trump claiming direct communication with Iranian officials who requested a halt to bombing. Crude oil spiked over 6% as a result. However, Trump also stated bombing will stop shortly, and Iran's state media denied any contact, creating a volatile, contradictory picture. The situation is rapidly evolving with high uncertainty. No other significant market-moving signals were detected in this window.