The Rally That Lasted a Day: Ceasefire Collapses, Oil Whipsaws, and Markets Discover the Fine Print

Wall Street staged the biggest rally of the year on a US-Iran ceasefire that lasted twelve hours. WTI crashed 16.4% — worst since 2020 — then bounced as Hormuz re-closed and Israel launched 100+ airstrikes on Lebanon. The market bought a peace that never existed.

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