IEA ready to stabilize oil market roiled by Iran war and to hold meeting on Iran situation at 13:00GMT/08:00EST; IEA monitoring situation in Middle East, including Hormuz risk

The IEA's readiness to stabilize the oil market amid the Iran conflict indicates possible intervention, which may soothe market volatility. This meeting highlights growing concerns around the Strait of Hormuz, crucial for oil transport, and could impact oil prices and global risk sentiment. Traders should be alert for developments that might influence supply dynamics and geopolitical risk, particularly in energy-sensitive markets.