[MARKET UPDATE] Crude continues to lift off lows on further reporting that Iran would consider withdrawing from the ceasefire if attacks against Lebanon do not stop
- As a reminder, at 14:25GMT, an Iranian spokesperson said there was either a ceasefire on all fronts, or no ceasefire on any front.
Context
The situation in Iran regarding the ceasefire is escalating with the indication that Iran may withdraw from the ceasefire if attacks against Lebanon continue. This adds geopolitical risk premium to crude prices as tensions rise, likely supporting further price increases in the oil market. Traders should keep an eye on developments, especially any direct implications for global oil supply and price stability.
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