The past few days have been tense. Although no US strikes were launched from Friday night into Saturday morning and the Gulf region remained quiet early Sunday, anticipation surrounding President Trump's next move is keeping energy traders and Gulf governments on edge. The big concern is that another round of strikes could trigger a wider regional conflict, particularly as the Iranian-backed Houthis have reactivated offensive operations in the southern Red Sea in recent weeks.

The Trump administration and Department of War may pursue de-escalation from here after Trump wrote on Truth Social late Saturday night: "We have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to."

"Tonight from 9:36 PM to 9:37 PM the S&P 500 price on Hyperliquid spiked bigly, and I couldn't figure out why... ...then Trump posted his TACO @ 10:05 PM. THEN I understood why," X user Stanphyl Capital wrote.