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Markets steady as US Iran ceasefire message fades
WTI crude was last down 26 cents to $71.84, as traders focused on whether talks continue rather than the ceasefire claim.
Forexlive said markets initially reacted to a Truth Social post by President Donald Trump claiming the Iran ceasefire is over, triggering a quick risk-off move.
The outlet said attention has shifted to the idea that talks could continue, noting there has been no sign of the United States imposing a blockade of Iran in the Strait of Hormuz.
Forexlive added that attacks appear to be ebbing, leaving the situation largely at status quo, though the latest episode makes lasting peace harder to envision and could keep ships reluctant to pass through Hormuz.
It added that the potential for ongoing tightness in the oil market was not yet showing up in prices, citing WTI crude down 26 cents to $71.84.
Latest closeWTI crude $71.84 ▼2.3%