Trump Declares Iran Ceasefire Over, US Strikes in Strait of Hormuz Fuel Oil Volatility

BNY's Geoff Yu highlighted conflict-driven volatility and positioning in oil markets, noting growing fragility in global markets. President Trump declared the Iran ceasefire over, and U.S. military strikes in the Strait of Hormuz have reignited concerns over potential supply disruptions.

The developments add to uncertainty in commodity prices, with the Strait of Hormuz being a critical chokepoint for crude oil shipments. Traders are now pricing in heightened geopolitical risk.