Shouchuang Futures: US-Iran Ceasefire, Oil Price Plunges

This morning, the US and Iran accepted Pakistan's request for talks and reached an agreement on a two-week ceasefire, entering into the negotiating stage. Iranian Foreign Minister Araghchi stated in the early hours of the 8th local time that if attacks on Iran cease, ships will be able to safely pass through the Strait of Hormuz in the next two weeks. As negotiations are imminent, oil prices have plummeted, but it should be noted that the fundamentals have not substantially improved. The EIA predicts that Gulf production will decrease by 910,000 barrels per day in April. In addition, negotiations between the US and Iran still face many disagreements, and uncertainty remains.