Tony Sycamore

"The tariff news over the weekend has resulted in some risk aversion flows this morning, which can be viewed in the price of gold and US equity futures and this is weighing on the crude oil price."

"I don’t believe that the US wants to attack Iran, given the risks it brings in terms of regional destabilisation and, closer to home, voter discontent ahead of the November midterms."

"A sustained break above the top of this range would open the way for further gains towards $70.00–$72.00. Conversely, signs of de-escalation would likely see a retracement back towards $61.00."

"Crude oil remains at the very top of the US$55–US$66.50 trading range that has defined the past six months."

"The Street wanted more or was not willing to chase Nvidia at its current high valuation."

"While all of this has helped ease some of the short-term panic, it's hard to reconcile the idea of the conflict being 'very complete'."

"This appears to mark a direct and forceful Iranian response to the IEA’s announcement."

"It’s a good start and could pave the way to a more permanent reopening – but lots of ifs still to work out."

"The initial wave of relief following President Trump's two-week ceasefire announcement has quickly given way to underlying doubts."

"All eyes remain firmly on tanker tracker flows through the Strait of Hormuz for any signs of increased activity ahead of peace talks scheduled in Pakistan today."

"The initial wave of relief following President Trump's two-week ceasefire announcement has quickly given way to underlying doubts."