Oil Prices Tumble on Iran-Israel Ceasefire ...Middle East

Crude oil prices slumped today, following a social media statement by President Trump saying that the Iran-Israel ceasefire is now in effect, putting an end to the war that started on June 13. Israel has agreed to the U.S. ceasefire proposal, while Iran's state media has reported the ceasefire is now in effect after a final round of missiles. At the time of writing, Brent crude was trading at $68.78 and West Texas Intermediate was changing hands for $65.81 a barrel, both down by over 4% from Tuesday, when Iran responded to the U.S. bombing of its…

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