"Stocks took a dive around 4 am ET after Trump declared that the Iran ceasefire was 'over,' and while the current détente is certainly under strain, we continue to think the White House is extremely reluctant to escalate militarily and fully return to hostilities and therefore, a deal remains much more likely than not," said Adam Crisafulli, analyst at Vital Knowledge.
Industry experts also indicated that global energy supply chains have previously established mechanisms to handle regional geopolitical friction.
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"The market has adapted to the reduction in traffic through the Strait of Hormuz, found alternative routes, and global demand has fallen," said Alex Kuptsikevich, chief market analyst at FxPro.
