[MARKET UPDATE] Broad risk off as Trump says Iran ceasefire is over "I think"; Brent rises $2/bbl, stocks slip and USD/yields rise

Newsquawk Staff · 8 Jul 2026, 08:38 UTC

Broad risk off as Trump says Iran ceasefire is over "I think"; Brent rises $2/bbl, stocks slip and USD/yields rise.

What our latest note said

US Market Open, 23 Oct, 10:15 UTC · what it led with

US President Trump says the US crushed Iran, and may want to do it a "little more".
Crude benchmarks firmer on ongoing tensions in the Middle East; recent bout of strength comes after the Houthis launched another missile towards Saudi interests.

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Iran and US talks continue, and reports that the deal is close are wrong.
WTI crude+1.5%
Mediation efforts said that "Qatar and Pakistan presented a 'compromise proposal' that meets the demands of both the American and Iranian sides", Al Araby Al Jadeed reports citing sources.
WTI crude−4.6%
"A breakthrough is expected to be announced this week to halt the escalation between Washington and Tehran", Al Araby Al Jadeed reports citing a source.
WTI crude−1.1%

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