Oil prices stable as Trump insists ceasefire still intact after U.S.-Iran exchange fire

President Trump insisted that the U.S.-Iran ceasefire remained intact despite the exchange of fire in the Strait of Hormuz, leading to temporary stabilization in oil prices. Market volatility increased due to the possibility of renewed U.S. naval operations escorting commercial vessels. Analysts predict a challenging path toward normalization and anticipate that oil prices may remain elevated.