US and Iran ceasefire deal nears, Hormuz reopens – Nikkei

💡 DMK Insight

The US-Iran ceasefire extension could stabilize oil prices, and here’s why that’s crucial: With tensions in the Middle East often impacting crude oil markets, this 60-day extension might prevent a spike in prices that traders dread. If oil remains stable, it could support broader market sentiment, especially for energy stocks and commodities. Traders should keep an eye on WTI and Brent crude benchmarks, as any disruptions could lead to volatility. Look for resistance levels around recent highs; a breach could signal a bullish trend. But don’t overlook the flip side—if negotiations falter, we could see a quick reversal in sentiment. Keep an eye on geopolitical news and oil inventory reports, as these could serve as catalysts for price movements. Monitoring the daily charts for crude oil will be key in assessing potential breakouts or pullbacks in the coming weeks.