US EditionOil prices down after Iran, Israel agree to ceasefire
- On June 24, 2025, President Donald Trump revealed that Israel and Iran had reached an agreement to halt hostilities amid escalating tensions in the Middle East.
- The ceasefire followed U.S. military strikes on June 21 that targeted Iran’s nuclear sites at Fordo, Natanz, and Isfahan, prompting Iran to retaliate by firing missiles at a U.S. base in Qatar.
- Markets reacted positively with global oil prices dropping about 7% to near $66 a barrel, while U.S. stocks, including the S&P 500, rose over 1% amid easing tensions and investor relief.
- Patrick De Haan of GasBuddy said prices should fall quickly due to the ceasefire, while Trump urged on Truth Social, "EVERYONE, KEEP OIL PRICES DOWN."
- The ceasefire eased fears of Gulf disruptions, supporting potential stabilization in oil supply and influencing expectations for Federal Reserve policy amidst ongoing inflation concerns.
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Fuel price rollback seen next week
MANILA, Philippines — Local pump prices are forecast to go down next week following the perceived easing of tensions in the Middle East due to the US-brokered ceasefire between Israel and Iran, an industry player said on Wednesday. Citing the results of a two-day trading in the Mean of Platts Singapore (MOPS), Jetti Petroleum president
Why gasoline prices aren't tumbling along with sinking oil
Oil futures tumbled again Tuesday on hopes that the shaky ceasefire between Israel and Iran would reduce, if not eliminate, the risk of any significant disruption to global energy markets. Gasoline futures fell, too.
The military conflict between Israel and Iran does not affect the price as much as expected.
Oil prices rose on June 25 as investors assess the stability of the ceasefire between Iran and Israel.
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