Crude oil futures plummeted by 18% following the US-Iran ceasefire announcement and the reopening of the Strait of Hormuz. This geopolitical risk premium evaporation heavily impacted global markets. While Israel supports the truce, critics argue the ceasefire is hollow without addressing Iran's nuclear program.
US President Trump demands clear signs from Iran to accept his terms, including reopening the Strait of Hormuz and ending its nuclear program. Tensions are rising as Iran has severed communications with the US following Trump's threatening social media posts. A full-scale US attack risks retaliation in the Persian Gulf and Israel, making a diplomatic resolution urgent.