♟️ Hormuz tanker strikes expose the deniability gap in Iran's leaderless ceasefire
♟️ Markets are pricing an Iran peace dividend that Israel hasn't endorsed
♟️ Oil markets crowd a best-case Iran settlement the Islamabad MOU cannot yet guarantee
♟️ Iran shot down a US Apache, Washington struck back within 24 hours, and the G7 couldn't hold the room on Ukraine
♟️ Lebanon strikes crack the Iran ceasefire and hand Trump a Netanyahu problem he cannot solve
♟️ Oil priced the deal; Lebanon just sent the invoice
🌐 Hong Kong has overtaken Switzerland as the world's top offshore wealth hub. The $10 billion gap is the least interesting part.
🌐 Spain loses the Shakira case and €60 million. Turkey is paying attention.
🌐 Geopolitics, 12-05-2026: The Hormuz closure turned Trump's Beijing summit into an energy negotiation, and Washington has the stronger hand
🌍 The oil market ran on two unspoken guarantees for 50 years. Both just broke.