Oil prices tumble as Israel agrees to ceasefire with Iran

Israel, after about two weeks of conflict with Iran with a cease -fire on Tuesday oil prices fell by about 5%.

Brent Ham, an international criterion for oil prices, fell to $ 68 per barrel, which was below the level of Israel’s launching missiles against Iran’s nuclear areas on 13 June.

As the concerns that Iran could exaggerate and disrupt global materials, prices have increased in recent days. Hormuz Strait, an important shipping route for oil and gas.

Since US President Donald Trump declared that the ceasefire was “in force”, the stock exchanges in England, Europe and Asia have risen, and after that Israel has accepted to act.

Oil prices have risen to $ 81 since missing strikes, and it is afraid that the cost of living can increase as gasoline, diesel and business costs increase.

“If the ceasefire is monitored as explained, investors may expect to return to normality in oil,” Phillip Nova Senior Market Analyst Priyanka Sachdeva said. He said.

However, “Israel and Iran will play an important role in determining the oil prices of their recently declared ceasefire conditions,” he added.

The FTSE 100 index in the UK increased by 0.45% in early transactions, while the CAC-40% in France increased by 1.5% and Germany’s DAX added 1.8%.

Japan’s Nikkei stock index increased by 1.1% and Hong Kong’s Hang Seng increased by 2.1%.

Trump called Israel and Iran to “not violate”. Israel, “Iran after eliminating the nuclear threat,” he said.

The Middle East conflict had increased global energy prices further, which would have an impact on invoices and gasoline prices if it could be sustained.

Recent increases were afraid that increasing energy costs could make everything more expensive, including in England, from gasoline and food to holidays.

This was what happened after Russia occupied Ukraine three years ago and affected people’s lives in the world.