U.S. & Iran agree to 'stand down' after weekend of military strikes

• U.S. and Iran agree to pause hostilities and resume technical talks, with vessels now able to move freely through the Strait of Hormuz.
• Oil prices (ICE Brent Crude and WTI Crude) are trading around $70-$72, showing a relatively muted reaction to the recent escalation, suggesting the market is pricing in de-escalation.
• The conflict remained largely 'tit-for-tat' without direct strikes on energy infrastructure, and alternative export routes are helping to absorb potential supply shocks.

The video reports on the de-escalation of tensions between the U.S. and Iran, with both sides agreeing to 'stand down' and resume technical talks after a weekend of military strikes. Despite initial volatility, oil prices are trading relatively muted, reflecting the market's expectation of a more benign scenario and the continued flow of shipping through the Strait of Hormuz.