Oil fell below $100 per barrel after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran conditional on the immediate and safe reopening of the Strait of Hormuz. The announcement reduced near-term geopolitical risk to shipping and crude flows, easing upward pressure on oil prices and likely easing volatility in energy markets over the short term.
Oil fell below $100 per barrel after U.S. President Donald Trump said he had agreed to a two-week ceasefire with Iran conditional on the immediate and safe reopening of the Strait of Hormuz. The announcement reduced near-term geopolitical risk to shipping and crude flows, easing upward pressure on oil prices and likely easing volatility in energy markets over the short term.
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mildly positive
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