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New York.- The price of intermediate Texas (WTI) oil closed this Tuesday with a 6.04% drop, to $64.37 a barrel, as optimism among investors increases due to the ceasefire between Israel and Iran.
At the close of trading on the New York Mercantile Exchange, WTI futures contracts for delivery in August fell $4.14 compared to the close of the previous session.You may be interested in: Wall Street opens in green while oil falls amid ceasefire between Israel and Iran
For its part, the price of Brent crude for delivery in August fell today by 6.07%, to $67.14, and lost $4.34 on the Intercontinental Exchange (ICE) compared to Monday's close, when it ended at $71.48. Iranian President Masud Pezeshkian stated this Tuesday that the 12-day war that Israel launched on the Persian country has ended, hours after the ceasefire proposed by US President Donald Trump came into effect. However, Israeli Prime Minister Benjamin Netanyahu assured today that he will act "with the same determination" and "the same force" against Iran if it tries to resume its nuclear project. "We have relegated the Iranian nuclear project to oblivion and, if anyone tries to reactivate it, we will act with the same determination and force to thwart any attempt of this kind. Iran will not have nuclear weapons," the president assured in his first public appearance since the ceasefire came into effect this morning. Since the conflict in the Middle East began, the price of crude oil has been shaken by the pace of the news. Iran is the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) and borders the Strait of Hormuz, a key commercial passage for the global flow of crude oil, so a possible blockade of the strait would have a direct impact on the price of a barrel of crude oil.
