[MARKET ANALYSIS] Oil futures tumble and metal prices rally following the ceasefire announcement
The announcement of a ceasefire between the U.S.
US President Trump tells AFP that Iran deal is complete and comprehensive victory for the US, also says Iran uranium will be perfectly taken care of and that he believes China got Iran to negotiate
Iraq's Islamic Resistance suspends operations for two weeks
[MARKET ANALYSIS] Oil futures tumble and metal prices rally following the ceasefire announcement
Iranian source on social media platform X says during a two-week ceasefire, only about 10 to 15 ships will be permitted to pass through straight-off homers with Iran's approval - UNCONFIRMED
RBNZ keeps the OCR at 2.25%, as expected, while it stated in the near term inflation, is expected to increase and economic recovery to weaken, while committee is focused on ensuring that inflation returns at a 2% target midpoint over the medium-term
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WTI/Brent: WTI May'26 -13.8% / Brent June'26 -12.7%
- Oil prices tumbled beneath the USD 100/bbl level following the announcement of a two-week US-Iran ceasefire within a couple of hours prior to Preisdent Trump's deadline.
Gold: +2.2%
- Rallied back above the USD 4,800/oz level as oil, the dollar and yields retreated on the two-week ceasefire announcement.
Copper: +2.6%
- Climbed higher amid the widespread risk-on mood with a relief rally spurred by the ceasefire agreement.
and Iran has led to a sharp decline in oil prices, dropping WTI and Brent futures substantially below the $100 per barrel threshold. This geopolitical easing has spurred a risk-on environment, resulting in a rally for precious metals like gold and industrial metals such as copper, as market participants react positively to diminished tensions and potential stabilization in the region.
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