India, June 28 -- Global crude oil prices continued to trade cautiously as investors shifted their focus from geopolitical headlines to actual oil supply indicators. While the announcement of a ceasefire initially triggered a sharp decline in oil prices, markets are now closely monitoring shipping activity through the Strait of Hormuz and Iran's verified crude export volumes before pricing in any sustained trend.

Analysts suggest that liquidity, rather than a complete reassessment of long-term market fundamentals, is currently driving oil price movements. Although a framework agreement has been reached to extend the ceasefire for at least 60 days, uncertainty surrounding implementation and regional developments continues to keep energy m...