Oil Traders Still Pricing Iran Risk Despite Ceasefire Talks

June's U.S.-Iran ceasefire signals pushed diplomacy forward, but energy traders aren't lowering their guard. About 20% of global oil moves through the Strait of Hormuz, where tensions remain live. Ceasefire agreements often take weeks or months to translate into actual de-escalation, leaving traders exposed to false signals. Oil and natural gas futures still embed meaningful geopolitical risk.