Market largely shrugs off Trump's claim that the ceasefire is over

<p>Trump wrote on Truth Social:</p><blockquote>The Islamic Republic of Iran has asked us to continue “talks.” We have

agreed to do so, but the United States has stated to them, in no

uncertain terms, that the Cease Fire is OVER! Thank you for your

attention to this matter. President DONALD J. TRUMP</blockquote><p>There was a kneejerk risk-off move on the message but the market is now more focused on the talks continuing part. We also don't have the US putting on a blockade of Iran in the Strait of Hormuz, which would be a big problem. So this still looks like the status quo and the US attacks look to be ebbing. </p><p>Still, in light of the latest episode it's getting tougher to envision any kind of lasting peace and ships will continually be relucatant to pass through Hormuz. That should lead to lasting tightness in the oil market that's not reflected now. WTI crude is down 26-cents to $71.84 today.</p>

This article was written by flc97fe4880a4b454993821fe0b770a597 at investinglive.com.

This article was sourced from Forexlive. WealthWire India aggregates financial news for informational purposes only. This does not constitute investment advice.