Market View: Are markets facing a ceasefire breakthrough or a supply shock at Hormuz in 48 hours?

Market activity held relatively firm, with S$1.45 billion in value turnover, but sentiment stayed fragile as attention turned to ongoing discussions around a potential 45-day ceasefire involving the US, Iran and regional mediators. With no clear outcome and a tight 24-48 hour window, markets, particularly oil, are bracing for possible volatility depending on how events unfold. Oil prices have so far shown measured reactions, suggesting that recent tensions may already be partially priced in, supported by existing inventory buffers. However, if the situation drags on or escalates, these buffers could begin to erode, potentially triggering sharper moves in energy markets. On Market View, Sean Cheong speaks to Kelvin Wong, Senior Analyst, OANDA, to unpack the latest market movements.See omnystudio.com/listener for privacy information.