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Oil prices fall sharply after Israel-Iran ceasefire

SPIL
Nepal Life

Kathmandu. After the ceasefire between Israel and Iran, the price of crude oil in the international market has fallen drastically.

Brent crude oil prices fell 6.1 percent in the international market on Tuesday. At the same time, Brent crude fell to $ 67.14 per barrel.

Esewa
Crest

Similarly, WTI crude was down 6 per cent at USD 64.37 per barrel. This price of crude oil is at the level before the war between Israel and Iran started.

On June 13, Israel unexpectedly attacked Iran’s nuclear facilities. After that, both countries attacked each other for 12 consecutive days. At the same time, the price of crude oil was also increasing steadily.

In the meantime, the US attacked Iran’s nuclear reactors. Israel and Iran have now declared a ceasefire.

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