- Oil prices remained near $100 a barrel after the US president announced an indefinite extension of the ceasefire with Iran, just hours before its expiry.
- The Strait of Hormuz remained closed, with the US navy continuing its blockade of Iranian ports, maintaining a standstill in traffic through the vital waterway.
- Iran reacted sceptically to the ceasefire extension, with the Tasnim news agency stating Iran had not requested it and reiterating threats to break the US blockade by force.
- Markets largely took the ceasefire extension in stride, with S&P 500 and Nasdaq futures rising, and Asian stocks hitting record highs, though some experts cautioned against complacency.
- The broader energy fallout continued, with the European Commission planning measures to cut electricity taxes and coordinate gas storage, and concerns rising over jet fuel shortages and accelerating inflation in the UK.
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