Overview
- Risk assets pulled back Thursday as oil bounced toward $100 a barrel following Wednesday's surge on the two-week ceasefire announcement.
- Traffic through the Strait of Hormuz stayed heavily restricted with only a handful of ships moving and hundreds queued, leaving a crucial energy route largely shut.
- Iran’s parliamentary speaker said the US had already violated the truce after Israeli strikes in Lebanon, casting doubt on the deal before talks begin.
- Negotiators are set to meet Saturday in Islamabad, with Vice President JD Vance expected to lead the US team in pursuit of a more durable halt to fighting.
- Households face higher fuel and energy costs now, though UK motoring groups say pump prices could start to fall in about two weeks if the truce holds.