Caution creeps back in as US-Iran truce remains unresolved
Happy Friday. Oil prices and the dollar are paring their losses this morning after dropping sharply yesterday on reports of a tentative agreement between the US and Iran. According to multiple sources, the two sides have agreed to extend their ceasefire by 60 days, schedule a fresh round of negotiations on Iranian nuclear materials, and reopen the Strait of Hormuz within a month. But Tehran has not confirmed the text, President Trump has not yet signed off, and after a series of false dawns investors are growing more cautious as the session progresses*. Although both global crude benchmarks are down...