Breaking
Posted 4 hours ago
Oil Drops to War-Start Lows After US-Iran Ceasefire Deal
Oil prices fell to their lowest levels since the start of the Iran conflict following the signing of a ceasefire deal, unwinding the geopolitical risk premium that had supported crude prices. The move signals a sharp reduction in Middle East supply disruption fears.
The drop weighs on commodity-linked currencies such as CAD and NOK, pressuring USD/CAD lower as oil correlations reassert. Safe-haven flows into JPY and CHF may reverse, lifting USD/JPY and EUR/CHF. Traders should watch for volatility in petro-currency pairs as risk sentiment shifts.
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