Crude oil prices rose over 1% to above USD 65/barrel on Wednesday, rebounding from a 13% two-day plunge, its steepest drop since 2022. The market remained focused on Middle East tensions, where a US-brokered ceasefire between Iran and Israel appeared to hold. President Trump backed continued Chinese imports of Iranian oil, easing sanctions pressure. Still, a US intel report warned that recent strikes on Iran’s nuclear sites may have delayed its program by only a few months. Separately, EIA data showed US crude stocks fell 5.8 mln barrels last week, well above forecasts, marking a fifth straight weekly decline.