Oil costs fell sharply to their lowest levels in extra than every week on Tuesday after US President Donald Trump introduced a ceasefire agreement between Iran and Israel, allaying fears of supply disruptions inside the principal oil-generating middle East.
Brent crude futures fell $2.08, or 2.9%, to $sixty nine.forty a barrel, after earlier falling greater than four% and touching their lowest degree given that June 11.
U.S. West Texas Intermediate crude fell $2.03, or three.0%, to $sixty six.forty eight a barrel, after falling 6% to its lowest degree considering the fact that June nine in advance within the session.
