Oil prices fell sharply for a second day after Israel confirmed a U.S.-brokered ceasefire with Iran, easing fears that the conflict would disrupt global energy supplies.
Brent crude, the global benchmark, dropped by 5.4% to $67.65 per barrel on Tuesday, after tumbling 7% on Monday, returning to levels last seen before Israel launched strikes against Iranian nuclear and military sites on 13 June.
The market reacted to a post from U.S. President Donald Trump “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE,” he announced.
Israel’s government later confirmed it had accepted the ceasefire proposal after achieving its military objectives.
The truce brought relief to global financial markets. London’s FTSE 100 rose 0.8%, Japan’s Nikkei gained 1.1%, and Hong Kong’s Hang Seng climbed 2.1%.
Meanwhile, an Iranian strike on Al Udeid airbase in Qatar Monday night was described by the US as “largely symbolic,” further calming fears of wider regional disruption.
The Strait of Hormuz, a critical shipping lane for global oil and gas, remained open despite Iran’s parliament voting to close it.
Analysts now expect market focus to shift back to fundamentals such as OPEC production plans and global demand trends. Senior Analyst Ipek Ozkardeskaya of Swissquote Bank said U.S. crude could fall below $65 a barrel if tensions do not escalate again.
However, she warned that any new flare-up in hostilities could trigger another short-lived spike in prices.
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The 'CIDC 2025 – Critical Infrastructure Defence Challenge' cybersecurity festival is being held on 9–10 October at the Baku Congress Centre, jointly organised by the State Service for Special Communication and Information Security of the Republic of Azerbaijan.
Leaders across the world have welcomed the Gaza ceasefire and hostage deal brokered under U.S. President Donald Trump's peace plan, calling it a critical first step but warning that full implementation is essential.
Israel and Hamas said they had agreed to a long-awaited ceasefire and hostage deal, the first phase of U.S. President Donald Trump's plan to end a war in Gaza that has killed more than 67,000 people and reshaped the Middle East.
In the wake of the October European Union summit in Copenhagen, Europe’s security architecture seems to be entering a new phase.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Gold prices rose above $4,000 an ounce for the first time on Wednesday, fuelled by investor demand for safe-haven assets amid rising geopolitical tensions and expectations of U.S. interest rate cuts.
U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to alternative indicators and comments from Federal Reserve officials for guidance on economic weakness and monetary policy.
Elon Musk’s artificial intelligence startup xAI is targeting a $20 billion capital raise linked to Nvidia hardware, Bloomberg News has reported.
Türkiye’s benchmark stock index, the BIST 100, closed Tuesday at 10,814.11 points, up 0.74% from the previous session.
Euro zone finance ministers are set to meet on Thursday to explore ways to boost the development of euro-denominated stablecoins, amid concerns that the fast-growing market could remain dominated by the United States, a senior euro zone official said.
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