Brent crude back in focus as US-Iran ceasefire expires
The US-Iran ceasefire has lapsed, with Washington rejecting an extension while Tehran threatens escalation and has seized a tanker, reviving upside risks for Brent crude.
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Geopolitical risk is returning to the oil market after the 60-day ceasefire between the US and Iran expired. Washington has no intention of extending the agreement.
Tehran has threatened to escalate the conflict and has seized a tanker in the Strait, according to the report. The development puts renewed attention on Brent crude and the question of whether it can return to $100 a barrel.
The US dollar has also re-entered the picture as the geopolitical tone shifts, adding another layer for markets to watch.
Source: FXStreet Forex News