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Jun 24, 2025
Oil falls to $66.26 as tensions ease
Market movements show reduced supply concerns
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Current price: US crude oil (WTI) at $66.26 per barrel. Main reason: A temporary truce between Israel and Iran restored balance to the markets and eased fears of maritime supply disruptions. Urgent implications: A drop of about 4% from its pre-truce high, reaching its lowest price in two weeks. Market response: A buying wave in global stocks and a decline in oil indices due to a decline in safe-haven sentiment. |
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Details: What happened?
Israel announced its acceptance of a truce proposal proposed by President Trump, easing regional tensions.
How was oil affected?
Oil futures fell by about 4%, after reaching their highest peak since mid-June.
Market Implications:
Global stocks saw increased interest, the dollar fell against major currencies, and profit-taking was restricted in the energy sector.
Conclusion:
The truce agreement lifted sentiment, but led to a drop in oil prices to $66.26, with volatility likely to return if further escalation occurs.