Overview

• Trump declared on Truth Social that Iran and Israel have agreed to a “complete and total” ceasefire for 12 hours, marking an end to the 12-day conflict pending phased implementation.
• West Texas Intermediate crude for August delivery fell more than 5% to $65.02 per barrel, its lowest since before hostilities began on June 13.
• Asia-Pacific markets opened higher and US stock indices closed up, with the S&P 500 rising 0.96% and the Nasdaq Composite gaining 0.94%, as investors shrugged off Middle East risk.
• Neither Tehran nor Jerusalem has publicly confirmed the ceasefire terms, leaving the agreement’s authenticity and durability in doubt.
• Energy Secretary Chris Wright credited the White House’s diplomatic efforts for the de-escalation and analysts expect traders to refocus on oil supply-demand fundamentals.