The peace agreement is loudly proclaimed, but traders are betting on geopolitical escalation—it's the old script.

CryptoWorld News reports that Allianz’s Chief Economist, Mohamed El-Erian, said that OPEC+ has increased its production by 188,000 barrels per day, but analysts believe that the vast majority of it is “paper volume.” Because the Strait of Hormuz is being disrupted continuously, it is unlikely that this increased oil will actually enter the market. Oil prices rose by 5% this morning. Even though Trump said a peace agreement is imminent and that Israel must comply with U.S. directives, traders are reacting to the military escalation between Iran and Israel and Israel’s expanding attacks on Lebanon.