Oil Prices React to Iran Tensions and Truce Extension
Key Points: Trump extends ceasefire with Iran despite faltering peace talks. Strait of Hormuz remains blockaded, impacting global oil flows. Oil market volatility high due to Persian Gulf developments. Iran threatens to forcefully break the U.S. blockade. Oil prices held onto recent gains after U.S. President Donald Trump extended a ceasefire with Iran. This happened even as peace talks stumbled and the critical Strait of...