Evening digest: Trump displeased with Iran, jolts EU with auto tariffs

Geopolitical and trade developments drove market moves: President Trump signalled frustration with Iran talks and claimed a blockade of the Strait of Hormuz, keeping oil supply risks elevated even as diplomacy briefly eased prices. He also announced a rise in EU auto tariffs to 25%, pressuring European carmakers and prompting a sell recommendation on BMW. Brent traded above $108 and WTI around $102 as traders balanced supply concerns with diplomacy hopes. In risk-on flows, Bitcoin climbed toward the $80,000 level, trading near $78,700 after a ~2% 24-hour gain, as equities and easing oil prices supported crypto demand. The piece highlights continued upside risk for oil (XLE.US) on sustained Hormuz disruption and downside for EU autos if tariffs persist.