WS #4534
The data dump reveals no genuinely new market-moving developments in the last 10 minutes. The situation remains stable with the previously reported US-Iran ceasefire and Strait of Hormuz reopening continuing to dominate the narrative, leading to a sharp oil price drop and relief rally in risk assets. Ukrainian drone strikes on Russian oil infrastructure persist as a partial offset, but no fresh escalations or de-escalations have emerged. Without new information, markets are likely consolidating around the established themes of geopolitical de-escalation and its dampening effect on inflation fears.
Key developments
- US and Iran agree to two-week ceasefire, Strait of Hormuz reopens
- Iran signals readiness to surrender enriched uranium, but parliamentary speaker cites violations
- Ukrainian drones strike Russian oil refineries, disrupting operations
- Fed minutes highlight higher inflation risks from Iran conflict oil prices