[MARKET UPDATE] Modest upside seen in crude futures amid headlines of attacks in Iran by the US, although US officials claim the ceasefire has not ended; Iran yet to respond
Context
The modest upside in crude futures reflects geopolitical tension stemming from US attacks in Iran, which could suggest potential supply risks. Although US officials indicate a ceasefire remains in effect, market participants are likely weighing the implications for oil supply stability and regional security.
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