Oil prices rebounded sharply after Iran and world powers announced a tentative cease-fire, clearing the way for potential crude exports that had been blocked. Wall Street had been anticipating this move for weeks, with traders positioning for a postwar rally that never materialized until now. The truce, however, leaves critical questions unanswered about the long-term stability of oil flows through the Strait of Hormuz, a vital energy chokepoint.

Clearview Energy Partners noted the price rebound reflects stickier fundamentals rather than lasting peace, warning that short-term optimism could fade if the truce collapses.