1. The U.S. and Iran have reportedly agreed to a two-week ceasefire, significantly de-escalating geopolitical tensions in the Middle East.
2. As a result of the ceasefire news, WTI crude oil prices plummeted by more than $20 per barrel as war-related supply fears subsided.
3. Markets responded positively with a broad risk-on rally, evidenced by sharp gains in global stock futures (S&P 500, Nikkei) and the crypto market (Bitcoin, Ethereum).
Geopolitical Relief Rally, Crude Collapses, Risk Assets Soar
