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Hot Commodities: WTI slides over 6% as Trump's ceasefire eases supply fears
24-Jun-2025 13:23
WTI crude oil futures tumbled over 6% to around $64.38 per barrel on Tuesday, touching a two-week low after President Trump confirmed a ceasefire deal between Israel and Iran, calming supply disruption fears. Brent crude also slid more than 3% to a session low of $67.50, its weakest since June 11. The Israeli government and Tehran both agreed to end the 12-day conflict, boosting hopes for stability in the region. Tuesday's drop deepened a 7% fall from the previous session when Iran retaliated against US strikes by hitting a US base in Qatar. On the domestic front, MCX July crude futures plunged over 5% to a session low of Rs 5514 per barrel.

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