Intel (INTC.O) granted underwriters a 30-day option to purchase up to 31.6 million additional shares at the public offering price.

Market sources: Iran's foreign minister spoke by phone with Germany's foreign minister.

Iranian political analyst Hussein Ruivalan said the outcome of the Strait of Hormuz standoff will depend on which side can endure longer, framing it as a contest between closing the strait and blockading Iran. He said the US is feeling the pain of higher oil prices, rising inflation and living costs, which has reduced domestic appetite for war, while Iranians view the conflict as an imposed defensive action and can tolerate it longer. Ruivalan warned a protracted conflict could have domestic political costs for the US president and Republicans if no solution is found. He denied US reports of Iranian supply shortages, saying Caspian ports are meeting domestic demand, and argued Iran’s roughly 7,000 km land borders and 3,000 km coastline make a true blockade infeasible.