Oil prices rebounded after recording their steepest one-day decline since April 2020, as concerns grew over the stability of the recently agreed ceasefire in the Middle East. On the first day of the truce, Mohammad Bagher Ghalibaf cast doubt on the viability of negotiations with the United States, stating that a ceasefire agreement was “unreasonable” and accusing Washington of failing to meet several of Tehran’s conditions for ending the conflict. His remarks underscored the fragile nature of the agreement, despite both the United States and Iran publicly claiming success following the two-week ceasefire arrangement.

Global risk sentiment improved markedly as crude oil prices plunged by more than 15%, following a breakthrough in ceasefire negotiations between the United States and Iran. During early Asian trading hours, both countries agreed to a two-week ceasefire proposal facilitated by Pakistan, signaling a temporary de-escalation in tensions that had previously threatened global energy supply. The agreement includes conditions tied to the reopening of the Strait of Hormuz, a critical route that accounts for roughly 20% of global oil shipments.

Global risk appetite remained subdued as market participants closely monitored developments surrounding ceasefire negotiations between the United States and Iran, with a key deadline for the reopening of the Strait of Hormuz set for later today.

Crude oil prices extended their rally as tensions between the United States and Iran continued to escalate, heightening concerns over global energy supply disruptions. Donald Trump issued a fresh ultimatum to Tehran, threatening to strike power plants and other critical infrastructure if the Strait of Hormuz is not reopened. The warning has intensified fears of further escalation, particularly as the strait remains a key artery for global oil shipments.

Crude oil prices surged sharply, rising by more than 6,000 points, as escalating tensions between the United States and Iran reignited fears of supply disruptions across global energy markets. The latest rally was driven by heightened geopolitical risks after Donald Trump stated that the U.S. would “very soon finish the job” in Iran, while also claiming that U.S. operations in the region had been completed successfully. Despite these remarks, market participants remain cautious, with many questioning the sustainability of the current situation and the likelihood of further escalation.

Gold prices rebounded after finding support following a sharp selloff, as market sentiment turned risk-off amid the lack of progress in U.S.–Iran ceasefire negotiations. The precious metal broke above its recent consolidation range, supported by renewed safe-haven demand as geopolitical uncertainty remains elevated. With both sides failing to reach a consensus, investors have rotated back into defensive assets, underpinning the recovery in gold prices.

The dollar index, which tracks the greenback against a basket of six major currencies, rebounded sharply as investors digested signs that inflation pressures in the US may be returning. The latest US Producer Price Index (PPI) jumped from 0.50% to 0.70%, significantly exceeding consensus estimates of 0.30%. While higher inflation readings typically support the dollar by driving up yields, this specific surge has yet to significantly impact oil prices, which remain elevated due to separate geopolitical catalysts—specifically the recent strikes on South Pars and Ras Laffan.

U.S. equity markets tumbled on Monday as the widening conflict in the Middle East drove crude oil prices toward the $100-per-barrel threshold, reigniting fears of a systemic inflation spike. The Nasdaq Composite led the decline, falling 1.78% to 22,311.98, as investors moved to de-risk portfolios in the face of surging U.S. Treasury yields. The Dow Jones Industrial Average dropped 739.42 points, while the S&P 500 shed 1.52%, reflecting a broad-based sell-off across sectors sensitive to rising energy costs and borrowing rates.

Gold and silver traded sideways over the past 24 hours, navigating a complex landscape of competing influences. Spot gold traded near $5,110 per ounce, while silver reached around $85 per ounce, higher by roughly 1.2 percent.

The global energy market is currently in a "state of war" between government policy and physical sabotage. Early on Wednesday, it appeared that the International Energy Agency (IEA) had successfully placed a "ceiling" on prices by authorizing the largest emergency oil release in history—totaling 400 million barrels. The U.S. alone committed 172 million barrels from its Strategic Petroleum Reserve (SPR), a move intended to stabilize fuel costs.

As the conflict enters its 12th day, the disconnect between political rhetoric and military action has left gold traders in a state of cautious "wait-and-see." While gold has gained nearly a fifth of its value this year, its upward momentum has hit a wall of conflicting data. On one hand, the "Most Intense Day" of U.S. and Israeli airstrikes has targeted deep-inland Iranian military hubs, maintaining a massive geopolitical risk premium

President Donald Trump's March 9-10 remarks on the Middle East conflict introduced a fresh layer of uncertainty into already volatile precious metals markets, with gold and silver responding to the nuanced messaging that balanced optimism for a swift conclusion with stark warnings of far harsher retaliation.