Overview
- Oil, which plunged about 11% to $99.94 on Monday after President Trump announced a five‑day pause in planned strikes, rebounded Tuesday above $100 following Iran’s denial of talks and new attack reports.
- The Mexican peso, which firmed to about 17.78 per dollar Monday on the oil slide, traded near 17.84 Tuesday as price swings kept investors cautious.
- Argentine stocks and bonds advanced and the country risk eased, with JP Morgan’s gauge slipping to roughly 596 on Tuesday after improving to around 608 late Monday.
- Despite the brief relief in crude, Argentina’s pump prices that climbed roughly 16% in March are unlikely to fall soon given YPF’s pricing role, export‑parity formulas, and deferred fuel‑tax updates.
- Chile’s government announced steep fuel hikes tied to higher global crude, and stations saw long lines as drivers filled up ahead of the increase.