Trump Ends Iran Ceasefire, Removing Restraint on Oil Price Volatility

President Trump declared the US-Iran ceasefire finished on July 8, citing Iranian activity in the Strait of Hormuz. The June truce had capped volatility in oil and LNG markets—roughly 20% of seaborne crude passes through that chokepoint. Without this nominal 60-day anchor, traders lose the tail-risk ceiling they've relied on since March's Operation Epic Fury. Tehran's next move—escalation, denial, or negotiation—will determine whether energy markets reprices sharply upward or stabilizes.