zerohedge @zerohedge

Top Overnight News

OpenAI is considering drastically lowering the prices it charges users as it seeks to win customers from its rival Anthropic. The company is weighing significant cuts to what it charges for tokens, the unit of measurement artificial-intelligence firms use to bill for their products, according to people familiar with the matter. WSJ

Donald Trump told Fox News that the US will launch more attacks on Iran unless it accepts an interim peace deal. His remarks followed another night of clashes between the two countries. Iran told ships with permits to cross the Strait of Hormuz to await guidance, saying it’s closed until further notice. BBG

Efforts to reach an interim deal to end hostilities between Iran and the U.S. have intensified, three Iranian sources and a European official told Reuters on Thursday, despite strikes launched by both sides, as the warring parties discuss how to release frozen Iranian funds. RTRS

A sharp fall in China’s crude oil imports during the Iran war has been instrumental in holding down oil prices and keeping the global economy humming. Clues are emerging in the mystery of the missing three million barrels—the oil that China would normally be importing but isn’t now. Chinese people are driving fewer gasoline-powered cars and taking trains instead of planes. WSJ

SK Hynix plans to double its capacity within 5 years and triple it by 2034. Nikkei

Shares of Alibaba and http://JD.com slid after Chinese regulators scolded leading e-commerce players for what it called misleading promotions. BBG

The European Central Bank is all but certain to raise interest rates on Thursday in the hope of nipping higher inflation in the bud before a surge in energy costs triggered by the Iran war spreads ‌more broadly across the euro zone economy. RTRS

S&P upgraded Argentina’s credit rating to B-, citing President Javier Milei’s fiscal austerity and improved liquidity access. BBG

The Knicks staged the biggest comeback in NBA Finals history, rallying from a 29-point deficit to defeat the San Antonio Spurs 107-106 in Game 4. The win gave New York a 3-1 series lead, one victory away from its first NBA championship since 1973. BBG

https://x.com/zerohedge/status/2065043733423210759

zerohedge @zerohedge

Top Iran News(courtesy of @Newsquawk )

The US carried out fresh strikes against Iran, with US CENTCOM saying that American forces began launching additional self-defence strikes, and then later announcing that it completed the strikes, targeting Iranian military surveillance capabilities, communication systems and air defence sites across Iran. In response, Iran's military command centre announced the Strait of Hormuz would be closed to all vessels, effective immediately, and threatened to hit any vessels crossing the strait. Iran's IRGC also said it launched two waves of retaliatory strikes, hitting and destroying 18 key military targets in US bases in Kuwait and Bahrain.

Following the overnight strikes, an Iranian source told Reuters that Iran and the US are still in negotiations over a preliminary deal, which includes a mechanism for unfreezing funds. This followed commentary by the Pakistani Foreign Minister stating that we remain engaged with a degree of optimism. The minister added that channels of communication remain open and Pakistan and Qatar remain engaged in mediation efforts. To add, CNN reported first, citing a source, stating that US-Iran talks still continue despite US-Iran military exchange.

US President Trump said on Wednesday evening that fighter jets were operating over the skies of Iran, and he spoke directly with Iranian officials. Trump added that Iranians asked him to stop bombing, while he said the bombing will stop shortly, but left the option open for more strikes. Trump also stated that Israelis were not involved in Iran strikes and that the US fired 49 Tomahawk missiles, as well as noting that Iran must choose between war or a new deal and warned 'we'll bomb them to rubble tomorrow night' if there is no deal.

Tasnim cited a reliable source stating that Trump's claim that Iranian officials spoke with him directly and wanted the bombing to stop is completely false, while the source added that no contact has been established with Trump and that Iran responds to aggression with military action.

US President Trump held a Situation Room meeting on Iran strike options, while sources said one option Trump was considering was launching an operation that is big in scale but short in duration, according to Axios. However, NYT later reported that officials held a Situation Room meeting regarding the Epstein files and that the meeting was held without Trump.

US Secretary of War Hegseth said Central Command would be busy overnight and that the US would hit Iran hard, with the US to bomb key facilities in Iran, and strikes would be strong and clear.

IRGC Navy said vessels approaching the Strait of Hormuz is considered cooperation with the enemy and "We warn that no vessel should leave its anchorage in the Persian Gulf and the Sea of Oman", ISNA reported.

Iran said applicants who have received a transit permit are asked to be patient and await further guidance from the PGSA, IRIB reported and repeated that the Strait remains closed until further notice.

UKMTO received a report of an incident 21NM Northeast of Sohar, Oman. Iran's Sirik Governor later said the US projectile hit a cargo boat in the Gulf of Oman.

A 7th vessel carrying Qatari LNG is understood to have transited the Strait of Hormuz, Kpler's Bakr reported.

India's embassy within Oman said they were informed on Thursday of an incident that involved a vessel in proximity to the Shinas port.

Israeli airstrike targets a facility in Western Bekaa, central Lebanon, Al Hadath reported.

Israeli airstrikes reported on towns in southern Lebanon, Al Mayadeen reported.**

https://x.com/zerohedge/status/2065043834136842737