Oil prices fall 5% after Israel agrees to ceasefire proposal

BSS

Published On: 24 Jun 2025, 13:14

TOKYO, June 24, 2025 (BSS/AFP) - Oil prices sank more than five percent Tuesday after Israel said it had agreed to US President Donald Trump's proposal for a bilateral ceasefire with Iran.

At around 0640 GMT, Brent was up 5.0 percent at $67.93 per barrel, while the main US crude contract WTI was 5.1 percent higher at $65.01 per barrel.

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