"The US has not agreed to an extension of the ceasefire. There is continued engagement between the US and Iran to reach a deal", according to a US official cited by Axios' Ravid

The lack of an agreement on the ceasefire extension indicates ongoing tensions in the region, particularly impacting U.S.-Iran relations. This continues to create uncertainty in energy markets, particularly for crude oil prices; any escalation or further developments could drive volatility in WTI. Traders should watch for potential market reactions, particularly in commodities and risk assets, as developments unfold.