Oil prices drop following declaration of Israel-Iran ceasefire
Oil futures dropped sharply today following a ceasefire announced by Israel and Iran. Oil prices tumbled by 3-5 per cent. Brent crude, the international benchmark for oil prices, fell to $68 a barrel—below the level it was at when Israel launched missiles against Iran's nuclear sites on June 13. The price fall narrowed as Israel claimed that Iran had violated the ceasefire by launching a missile.
Oil futures dropped sharply today following a ceasefire announced by Israel and Iran. Oil prices tumbled by 3-5 per cent.
Brent crude, the international benchmark for oil prices, fell to $68 a barrel—below the level it was at when Israel launched missiles against Iran's nuclear sites on June 13.
The price fall narrowed as Israel claimed that Iran had violated the ceasefire by launching a missile.
