US crude futures experienced a sharp rebound earlier today, reversing the previous day’s decline, which had been triggered by US President Donald Trump’s announcement of a two-week ceasefire with Iran. This development marked a significant shift from the market’s earlier reaction, where oil prices plummeted by 14 percent and briefly touched $90.40 per barrel before stabilizing near $95. The sudden turnaround in the market’s fortunes was accompanied by a surge in global stock indexes.
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