Oil prices have seen an increase this morning, primarily driven by the precarious state of the US-Iran ceasefire. The ongoing tension between these two nations has significantly impacted natural gas markets, with TTF prices demonstrating a rally of over 3%.

The crucial question for energy markets remains whether the flow of oil and liquefied natural gas (LNG) from the Persian Gulf will stabilize and recover. This uncertainty, coupled with geopolitical rhetoric, continues to influence market sentiment and price movements. Simultaneously, gold experienced its third consecutive weekly decline, falling more than 2%. This downturn is attributed to investor reactions to the evolving US-Iran negotiations and speculation regarding the future direction of US monetary policy.

The current market landscape highlights the profound interconnectedness of geopolitical events and global commodity prices. As the situation between the US and Iran unfolds, it will continue to be a primary driver for oil and natural gas. The resilience and adaptability of global supply chains, coupled with diplomatic efforts, will be key to fostering stability in these essential sectors.