Jun 24, 2025 4:49 AM IST US Stock Market Live: Oil Prices Extend Drop
Oil extended a slump as US President Donald Trump announced a tentative ceasefire between Iran and Israel.
West Texas Intermediate for August fell as much as 5.1% to $65.02 a barrel in early trading in Asia. The plunge — which followed a roller-coaster session on Monday that ended in steep losses — took prices to below their level on June 12, the day before Israel attacked Iran.
In a move that will lower crude’s risk premium, Trump said that Israel and Iran had agreed to a “complete and total ceasefire,” which would begin at about midnight New York time, according to a post on Truth Social.
