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Brent crude surges to $94 before ceasefire announcement tempers Middle East risk premium

A volatile European session dominated by Iran-Israel military exchanges and partial ceasefire signals, with oil surging then partly retracing alongside a recovery in equity futures.

Iran and Israel exchange direct missile strikes, Brent crude surges to $95.43

A highly active overnight session dominated by Iran-Israel military escalation, a sharp Asian equity selloff led by Korean chipmakers, and renewed oil price gains.