Oil prices fluctuate in a narrow range as the market awaits further developments in the Israel-Iran ceasefire.
- On Tuesday, international oil prices fluctuated within a narrow range, with US crude currently trading near $91.00 per barrel. Although Iran and Israel have suspended mutual attacks following an appeal by US President Trump, both sides have not ruled out the possibility of resuming hostilities, and investors are still watching how the situation will unfold.
- Tim Waterer, Chief Market Analyst at KCM Trade, stated that although the latest ceasefire has brought some relief, investors do not believe this calm will last. He pointed out that current market pricing reflects ongoing uncertainty rather than confidence in a lasting solution.
- Tony Sycamore, Market Analyst at IG, also believes that while the ceasefire helps prevent further deterioration of the situation, the geopolitical backdrop remains tense and a lasting peace agreement is still far off.
- Meanwhile, on Monday, the US military reported that in the Gulf of Oman, an empty oil tanker attempting to violate Iran's blockade and head towards an Iranian port lost the ability to navigate. This incident has further heightened market concerns over the safety of energy transportation.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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