According to CNN on June 24, the price of US West Texas Intermediate (WTI) crude oil fell 3.7% to $65.9/barrel. Meanwhile, Brent oil - the global price standard - fell 3.8% to $68.8/barrel.
The decline continued after the first trading session of the week, when oil prices lost more than 7% of their value after Iran launched missiles at several US military bases in Qatar. WTI then fell 7.2% to close at $68.51 a barrel - the biggest one-day drop since April 2025 and among the biggest one-day drops in the past three years. Brent also lost 7.2% to close at $71.48 a barrel - its lowest level since August 2022.
Earlier, on the evening of June 23, US time, President Trump announced on social media that the two sides had reached a “complete and comprehensive” ceasefire agreement, which has now officially come into effect. Iranian and Israeli media later confirmed this information, although the specific terms have not been publicly announced.
According to analysts, the news of the ceasefire has temporarily eased short-term investor concerns about the risk of disruption to the global crude oil supply chain - which is at risk from tensions in the Middle East. However, in the context of the geopolitical situation that still has many potential instabilities, the energy market is forecast to continue to fluctuate unpredictably in the coming time.
Source: https://baobinhphuoc.com.vn/news/4/174382/gia-dau-the-gioi-giam-manh-sau-thong-tin-ngung-ban-giua-iran-va-israel
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