U.S. crude oil rises after selloff following Israel-Iran ceasefire

The US crude oil futures rise on Wednesday after a steep sales trigger of the Iran-Israeli ceasefire at the beginning of this week.

WE West Texas intermediate matter Term transaction contracts increased from 85 cents or 0.85%to be closed at $ 64.92 per barrel. Global benchmark Brent It won 54 cents or 0.8%to settle for $ 67.68 per barrel.

After the US bombing three nuclear regions in Iran at the weekend, prices rose to five months for a short time. However, the futures were rapidly sold on Monday and Tuesday after Iran targeted regional raw materials, and President Donald Trump pushed Jerusalem and Tehran to the ceasefire.

“With a ceasefire announcement [Monday]President Trump, President of the Global Commodity Strategy at RBC Capital Markets, said in his statement that he gave a note on Tuesday, “President Trump has successfully carried out an increase strategy in the twelve-day Israel-Iran War.”

“For now, the worst is coming out,” Croft said, “The ceasefire is still fragile.”