Two sources tell the Jerusalem Post the mediators Egypt and Pakistan are trying a last-minute ceasefire deal where Hormuz will be open and talks will start on a full deal between US and Iran

The reported efforts from Egypt and Pakistan to broker a ceasefire, allowing for the Strait of Hormuz to remain open, suggests a potential easing of tensions in a critical oil transit route.

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Qatar LNG shipments appear to pause attempt to exit the Strait of Hormuz, "it isn’t immediately clear at this stage if the tankers will abandon the journey", Bloomberg reports

Iranian armed forces spokesperson confirms Iran struck US new camp on Kuwait’s Bubyan Island, according to a statement

Two sources tell the Jerusalem Post the mediators Egypt and Pakistan are trying a last-minute ceasefire deal where Hormuz will be open and talks will start on a full deal between US and Iran

Iranian military spokesman warns of stronger, wider retaliation after attacks on civilian targets, Fars News reports

[MARKET UPDATE] DXY falls under Friday's lows to a fresh 99.87 trough, whilst T-note futures tick higher and with crude futures at session lows, with the energy complex feeling heavy after reports regarding efforts to pause/end the Iranian war

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Context

If successful, this could stabilize energy prices and reduce geopolitical risk premiums, particularly for WTI. The outcome may influence sentiment in commodities markets and broader risk assets depending on the perceived durability of the ceasefire agreement.

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