GLOBAL MARKETS-AI Rally Pauses as Middle East Ceasefire Goes On Life Support

GLOBAL MARKET - SINGAPORE. Oil crept higher and the dollar rose on Tuesday as hopes faded for a deal to get ships moving through the Strait of Hormuz, while a red-hot chip rally in chip stocks cooled and traders waited on U.S. inflation figures.

U.S. President Donald Trump said the ceasefire with Iran was "on life support" after Tehran's response to a U.S. proposal to end the war made clear the two sides were still far apart.