The delicate ceasefire between Israel and Iran appears to have collapsed, but U.S. President Donald Trump insists that the "complete and total" truce is still in place. This conflicting situation has injected uncertainty into global markets, leading to mixed reactions across commodities, equities, and currencies.
Initial optimism followed Trump's announcement earlier this week that the two countries had agreed to halt hostilities. Markets responded positively, with oil prices plunging nearly 4% to around $66 per barrel (WTI), stock futures climbing, and U.S. Treasury yields and the dollar easing, as reported by Reuters.
