// COMPARE

WTI slipped to $88.48 (-0.23%), giving back overnight gains as Hormuz ceasefire optimism overcame US-strike concerns. Tight range as traders waited for the next Iran headline.

Oil is trading the binary — every Iran news cycle whipsaws the tape. The underlying physical market remains tight (OPEC+ disciplined), but headline risk dominates positioning until resolution.

Any Hormuz deal confirmation pushes to $85; failure or fresh escalation reopens $95. Weekly EIA inventories Wednesday remain in the background. $90 is the headline-driven pivot.

EUR/USD bounced to 1.1654 (+0.31%) as the dollar slipped on Hormuz ceasefire optimism, even after US strikes complicated the picture. Range traded tight all session as traders weighed conflicting Iran headlines.

Euro is the cleanest dollar-funded carry when oil-driven dollar strength fades. With DXY at 98.99 and US10Y near 4.46%, the relief rally favors EUR over higher-beta crosses while geopolitical resolution remains uncertain.

EU CPI flash print tomorrow is the main catalyst — ECB pricing still hinges on services inflation stickiness. 1.1700 caps upside; a clean Hormuz deal headline could push there. Loss of 1.1600 reopens 1.1550.