Oil plunges 6%, Brent closes near $67

24/06/2025 Argaam
Oil drilling rigs

Oil drilling rigs

Oil prices fell today, June 24, as a ceasefire between Iran and Israel came into effect although each side accused the other of violations.

 

Brent crude futures for August delivery fell 6%, or $4.31, to settle at $67.18 a barrel. WTI crude futures for August delivery dropped 6%, or $4.14, to $64.37 a barrel.

 

US President Donald Trump accused Israel and Iran of violating the ceasefire agreement he announced earlier today, expressing particular displeasure with Israel and calling on it to halt attacks on Tehran.

 

Oil lost more than 7% in the previous session after Iran chose to attack a US military base in Qatar, instead of following through on its threat of closing the Strait of Hormuz.

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