WEEX Labs: U.S.-Iran ceasefire agreement takes effect, crude oil prices decline under pressure
TechFlow News, June 17: Following the announcement of a U.S.-Iran ceasefire agreement, market expectations for the resumption of shipping through the Strait of Hormuz and increased Iranian crude oil supply triggered a notable decline in oil prices. According to WEEX TradFi data, CRUDEOIL fell 5.2% over the past 24 hours, currently trading at approximately USD 76.02; USOON declined 3.8% over the same period, now priced at approximately USD 115.15. Meanwhile, gold (XAU) and silver (XAG) rose by 1.6% and 1.2%, respectively, to USD 4,327.52 and USD 70.32. WEEX Labs believes this oil price correction is primarily driven by easing geopolitical risks and improved supply outlooks, with capital gradually rotating from energy assets into risk assets; short-term relief in inflationary pressure may provide support to global markets. However, uncertainties remain regarding the implementation of the ceasefire agreement, and markets should closely monitor the pace of crude oil production recovery and subsequent negotiation developments.
