WS #9538

The US-Iran conflict continues to ESCALATE with new military actions: Iran declared the ceasefire effectively void after US strikes, and an Iranian cargo vessel was struck by a projectile in the Sea of Oman. Iran also launched ballistic missiles at a US airbase in Jordan. Three Indian sailors were killed in a US strike on an oil tanker, and another vessel with Indian crew reportedly came under attack near the Strait of Hormuz. However, a counter-signal emerged: Iranian sources told Reuters that Iran and the US are still in negotiations over a preliminary deal, including a mechanism for unfreezing funds. This suggests diplomatic channels remain open despite the escalation. The IAEA passed a resolution demanding Iran provide information on its nuclear stockpile, adding diplomatic pressure. On the corporate front, Meta severed Manus data access after China ordered a buyout unwound, a negative for META. OpenAI revealed an alleged Chinese network used ChatGPT to influence US debate on tariffs and AI policy. Oracle stock is plunging on massive AI spending plans, dragging SAP lower. CoreWeave tapped debt markets with a $3.5B notes offering. BHP is bracing for a strike after WA workers backed industrial action. The dominant theme is US-Iran conflict ESCALATING, with oil prices likely to spike, but ongoing talks provide a counter-narrative.