US-Iran Stalemate Drags On as Conflict Approaches 100-Day Mark

The US and Iran remained at loggerheads over a potential truce as the conflict approached the 100-day mark, keeping geopolitical risk elevated. Tehran also asserted that it and Oman have sovereignty over the Strait of Hormuz, a key global energy chokepoint, raising the risk of disruption to oil and shipping flows. The situation is broadly negative for risk assets and could have market-wide implications if tensions escalate further.

Analysis

The US and Iran remained at loggerheads over a potential truce as the conflict approached the 100-day mark, keeping geopolitical risk elevated. Tehran also asserted that it and Oman have sovereignty over the Strait of Hormuz, a key global energy chokepoint, raising the risk of disruption to oil and shipping flows. The situation is broadly negative for risk assets and could have market-wide implications if tensions escalate further.