financetom
World
financetom
/
World
/
Oil prices edge higher as investors assess Iran-Israel ceasefire
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Oil prices edge higher as investors assess Iran-Israel ceasefire
Jun 24, 2025 6:10 PM

(Reuters) -Oil prices edged higher on Wednesday, finding some respite after plummeting in the last two sessions, as investors assessed the stability of a ceasefire between Iran and Israel.

Brent crude futures rose 75 cents, or 1.1%, to $67.89 a barrel. U.S. West Texas Intermediate (WTI) crude gained 71 cents, or 1.1%, to $65.08.

Brent settled on Tuesday at its lowest since June 10 and WTI since June 5, both before Israel launched a surprise attack on key Iranian military and nuclear facilities on June 13.

Prices had rallied to five-month highs after the U.S. attacked Iran's nuclear facilities over the weekend.

U.S. airstrikes did not destroy Iran's nuclear capability and only set it back by a few months, according to a preliminary U.S. intelligence assessment, as a shaky ceasefire brokered by U.S. President Donald Trump took hold between Iran and Israel.

Earlier on Tuesday, both Iran and Israel signaled that the air war between the two nations had ended, at least for now, after Trump publicly scolded them for violating a ceasefire.

As the two countries lifted civilian restrictions after 12 days of war - which the U.S. joined with an attack on Iran's uranium-enrichment facilities - each sought to claim victory.

Direct U.S. involvement in the war had investors worried about the Strait of Hormuz, a narrow waterway between Iran and Oman, through which between 18 million and 19 million barrels per day (bpd) of crude oil and fuel flow, nearly a fifth of global consumption.

Investors awaited U.S. government data on domestic crude and fuel stockpiles due on Wednesday. U.S. crude fell by 4.23 million barrels in the week ended June 20, market sources said, citing American Petroleum Institute figures on Tuesday. [API/S] [EIA/S]

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Asian Equities Traded in the US as American Depositary Receipts Edge Lower in Monday Trading
Asian Equities Traded in the US as American Depositary Receipts Edge Lower in Monday Trading
May 26, 2025
10:30 AM EDT, 05/05/2025 (MT Newswires) -- Asian equities traded in the US as American depositary receipts started the week marginally lower Monday morning, declining 0.05% to 2,182.23 on the S&P Asia 50 ADR Index. From North Asia, the gainers were led by brand platform 36Kr (KRKR) and diagnostic imaging centers company Concord Medical Services ( CCM ) , which...
Fed, Trade Views Dull Wall Street Pre-Bell; Asia, Europe Mixed
Fed, Trade Views Dull Wall Street Pre-Bell; Asia, Europe Mixed
May 26, 2025
07:18 AM EDT, 05/05/2025 (MT Newswires) -- Wall Street futures pointed lower pre-bell Monday as traders weighed major indices trading at five-week highs, and awaited policy clarification this week from the US central bank. In the futures, the S&P 500 fell 0.8%, the Nasdaq declined 1%, and the Dow Jones was off 0.6%. The Federal Reserve's regular two-day policy meeting...
European Equities Traded in the US as American Depositary Receipts Marginally Higher in Monday Trading
European Equities Traded in the US as American Depositary Receipts Marginally Higher in Monday Trading
May 26, 2025
11:12 AM EDT, 05/05/2025 (MT Newswires) -- European equities traded in the US as American depositary receipts were marginally higher late Monday morning, rising 0.06% to 1,423.70 on the S&P Europe Select ADR Index. From continental Europe, the gainers were led by biopharmaceutical company Genfit ( GNFT ) and medical device maker EDAP TMS ( EDAP ) , which rose...
CANADA STOCKS-TSX opens lower after Trump's new tariffs; Fed-decision in focus
CANADA STOCKS-TSX opens lower after Trump's new tariffs; Fed-decision in focus
May 26, 2025
May 5 (Reuters) - Canada's main stock index opened lower on Monday, as renewed tariff concerns sparked by U.S. President Donald Trump weighed on investor sentiment, ahead of the Federal Reserve's monetary policy decision this week. At 9:31 a.m. ET (1331 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 0.2% at 24,977.16 points. ...
Copyright 2023-2025 - www.financetom.com All Rights Reserved