WEEX Labs: U.S.-Iran Ceasefire Agreement Reached, Crude Oil Under Pressure and Declining

Odaily Odaily, June 17 – Following the announcement of the U.S.-Iran ceasefire agreement, market expectations for the reopening of the Strait of Hormuz and increased Iranian oil supply led to a significant drop in oil prices. According to WEEX TradFi data, CRUDEOIL fell 5.2% in 24H, currently trading at approximately $76.02; USOON followed with a 3.8% decline, now around $115.15. Meanwhile, gold (XAU) and silver (XAG) rose 1.6% and 1.2% respectively, to $4327.52 and $70.32. WEEX Labs believes that the recent decline in oil prices is primarily driven by the easing of geopolitical risks and improved supply expectations, prompting capital flows from the energy sector to risk assets. In the short term, alleviated inflationary pressures may support global markets. However, uncertainties remain regarding the implementation of the ceasefire agreement, and the market should pay close attention to the pace of crude oil production recovery and subsequent negotiation progress.