WS #9803

The dominant signal in this window is the escalating Iran-Israel-Lebanon crisis, with an advisor to Iran's Supreme Leader stating 'Zero hour is upon us, launchers are being readied' (cross-corroborated by Reuters and Polymarket activity). This marks a sharp escalation from the previous diplomatic negotiation narrative. Separately, US crude oil inventories have fallen to 48 days of supply, approaching 45-year lows per BofA, while national average gasoline prices have dipped below $4/gal for the first time since April 20. The SpaceX IPO narrative continues to build with Bloomberg reporting it could be the largest since the dot-com era. Anthropic is scrambling to resolve an AI dispute with the White House after the US restricted access to its advanced models. Mitch McConnell was hospitalized Sunday morning, though no official confirmation of his condition. The UK seized a Russian shadow fleet tanker in its first solo operation. G7 protests in Geneva turned violent with police using water cannons and tear gas. The Iran deal narrative has DE-ESCALATED into a military confrontation warning, with the Hormuz blockade and potential Israeli-Lebanon conflict now the primary focus.