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Oil Falls After Iran and Israel Halt Attacks Following Trump Appeal
Brent and WTI fell as traders weighed a fragile pause in fighting and warnings that attacks could resume.
- On Tuesday, global oil prices fell, erasing previous gains after Iran and Israel halted attacks following an appeal from President Donald Trump. Brent crude futures dropped 1.4% to $92.92 a barrel, while West Texas Intermediate declined 1.9% to $89.57.
- In an interview published Monday, President Trump warned Israeli Prime Minister Benjamin Netanyahu that he might find himself fighting alone if he resumed hostilities. Both nations halted attacks but warned they could resume strikes.
- KCM Trade chief market analyst Tim Waterer noted that investors are not convinced the truce will hold. Varga warned that depleting global stockpiles could intensify demand, pushing Brent back above $100.
- U.S. forces disabled an unladen oil tanker in the Gulf of Oman on Monday after it violated the ongoing blockade against Iran. Tehran continues to block most shipping through the Strait of Hormuz, a vital passageway that previously carried one-fifth of global oil supplies.
- China's crude imports dropped 29% to their lowest levels in eight years last month, helping keep a lid on prices. This decrease, alongside reduced supply from the U.S.-Israeli war on Iran, complicates market stability as refiners draw on reserves.
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Oil prices fall to seven-week low as Iran and Israel halt attacks
·New York, United States
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Quotes are also pressed by signs of a weaker global demand than expected
·Brazil
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Oil prices ease as Israel and Iran pause strikes
Oil prices ticked down on Tuesday after Iran and Israel halted mutual attacks, even though there remains little sign of progress toward a full reopening of the Strait of Hormuz. Some oil and gas is filtering out of the Persian Gulf: The UAE’s ADNOC issued two tenders within the last week to sell crude through the strait, an indication that it is managing to get some tankers through, and a fifth Qatari LNG tanker successfully exited the Gulf as w…
·New York, United States
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Coverage Details
Total News Sources50
Leaning Left6Leaning Right10Center5Last UpdatedBias Distribution48% Right
Bias Distribution
- 48% of the sources lean Right
48% Right
L 28%
C 24%
R 48%
Factuality
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