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Oil prices fall their lowest:
Oil prices fell sharply on Tuesday. Furthermore, reaching their lowest level in more than a week, after US President Donald Trump announced that a cease-fire had been concluded between Iran and Israel, soothing fears of disruption of supply in the region.
Brent -to -term contracts dropped by $ 2.69, or 3.76 %, to $ 68.79 per barrel at 00:06 GMT, after losing more than 4 % earlier in the session and hit their lowest level since June 11.
The American crude West Texas Intermediate plunged $ 2.70, or 3.94 %, at $ 65.46 per barrel, having reached its lowest level earlier since June 9 and yielding approximately 6 %.
Donald Trump announced that Israel. Similarly, Iran had fully accepted a ceasefire on Monday, stating that Iran would start the truce immediately, followed by Israel after 12 hours. If the two parties oil prices fall their lowest maintain peace, the war will officially end after 24 hours, thus concluding a 12 -day conflict.
He said that a “complete. total” ceasefire would come into force in order to end the conflict between the two nations.
“With the announcement of the ceasefire. we are now witnessing the almost total disappearance of the risk premium which was integrated into the price of crude last week,” analyzes Tony Sycamore, analyst at IG.
Iran is the third producer of OPEC gross. and the ease of tensions would allow it to export more oil and avoid disturbances in supply, a major factor that caused prices in recent days.
The two petroleum contracts had already finished the previous session down more than 7 % after reaching heights of five months. following the United States attack by Iranian nuclear installations during the weekend, which had fueled the fears of a conflict of the conflict between oil prices fall their lowest Israel and Iran.
“Technically, the fall recorded tonight is strengthening a resistance zone between around $ 78.40 (peaks of October 2024 and June 2025) and $ 80.77 (higher of the current year). and it is clear that it would take an extremely unexpected and harmful event to the offer so that crude oil crosses this area of resistance,” adds Sycamore.
Oil prices fall their lowest
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