The markets are closely watching the ceasefire that is now in effect between Israel and Iran and how it will impact oil prices.
President Trump announced the deal Monday, and tensions have cooled after pressure from the United States. Oil prices fell shortly after, hitting a two-week low. Petroleum analysts tell Reuters the ceasefire effectively wiped out all risk that was built up over the last two weeks.
Analysts are also closely watching to see if Iran retaliates by closing the Strait of Hormuz, which is one of the world’s major transportation routes.
Related Stories
With new renewable volume obligations announced this year, the Iowa Soybean Association says they’ll be vital to a farmer’s bottom line.
Pressure to lower gas prices across the Golden State could be the saving grace of this year’s corn harvest. California may soon be the final U.S. state to approve E-15 sales.
