ANZ: OIL SUPPLY DISRUPTIONS HAVE MATERIALLY TIGHTENED GLOBAL CRUDE BALANCE, SHIFTING MARKET RAPIDLY FROM EARLY‑YEAR SURPLUS TO A SIZEABLE DEFICIT

- U.S. stock futures dipped Thursday, giving back some of the sharp gains from the previous session, as traders continue to monitor the Middle East after the U.S. and Iran agreed to a two-week ceasefire. - Tehran agreed to reopen the waterway for the next two weeks as long as all attacks are halted, according to a statement from Iran’s Foreign Minister. - But later on Wednesday, Iran’s parliamentary speaker accused the U.S. of already violating the ceasefire agreement. - Crude prices rose again on Thursday, putting pressure on equities. - The core personal consumption expenditures price index showed a 3% expansion for February, matching expectations. - Shares of CoreWeave rose more than 3% in premarket trading on Thursday after the AI cloud computing company announced an expanded infrastructure deal with Meta Platforms - Asia-Pacific markets fell Thursday, after Iran’s parliamentary speaker charged the U.S. of breaching the terms of their two-week ceasefire agreement. - The Dow Jones Transportation Average surged to fresh records Wednesday as stocks jumped on a relief rally.

HANG SENG TECH INDEX DOWN OVER 2%, HANG SENG INDEX DOWN 0.65%