A woman walks on a street, amid the Iran-Israel conflict, in Tehran, Iran, June 23, 2025. Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
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U.S. crude futures fell on Tuesday to their lowest level in more than a week as U.S. President Donald Trump said a ceasefire has been agreed between Iran and Israel, relieving worries of supply disruption in the area.
U.S. West Texas Intermediate crude fell $3.05, or 4.45%, to $65.46 per barrel as of 1026 GMT, after hitting its lowest level since June 11 earlier in the session.
The contract settled over 7% lower in the previous session.
Trump announced that Israel and Iran have fully agreed to a complete ceasefire, adding that Iran will begin the ceasefire immediately, followed by Israel after 12 hours. If both sides maintain peace, the war will officially end after 24 hours, concluding a 12-day conflict.
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(Reporting by Anjana Anil in Bengaluru; Editing by Leslie Adler)
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