Oil prices slump on Trump’s Iran claims
The US and Iran may be nearing a deal, with Trump claiming that a Hormuz agreement has been reached.
This development has led to a slump in oil prices.
The news has also affected other markets, with the yen surging and the Nikkei sinking over 2%.
UBS forecasts gold at $5,200 by June 2027, despite near-term pullback risk, while the PBOC sets the USD/CNY reference rate at 6.7898.