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06.04.202614:07:37UTC+00Crude Oil Rebounds on Volatile Monday

WTI crude futures rebounded above $112 per barrel on Monday after briefly testing the $109 level, as the market weighed a proposed 45-day ceasefire against President Donald Trump’s looming Tuesday deadline for potential strikes on Iranian infrastructure. Pakistan and other regional intermediaries have advanced a framework for an immediate truce and the reopening of the Strait of Hormuz, but persistent uncertainty over the timing and durability of any resolution continues to weigh on sentiment. Volatility intensified after a Truth Social post in which the President warned that failure to reopen the strait would lead to the destruction of Iranian power plants and bridges beginning tomorrow. This escalatory rhetoric erased earlier optimism and followed a weekend OPEC+ meeting at which the group approved higher output quotas to help ease global supply shortages stemming from war-related damage.

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