Oil Drops to Lowest Level in Over a Week

Oil prices saw a sharp decline on Tuesday, reaching their lowest levels in over a week, following U.S. President Donald Trump's announcement of a ceasefire agreement between Iran and Israel.اضافة اعلان

According to Bloomberg News, Brent crude futures fell by $2.08, or 2.9%, to $69.40 per barrel, after having dropped earlier by more than 4% and hitting their lowest level since June 11.

U.S. West Texas Intermediate (WTI) crude fell by $2.03, or 3.0%, to $66.48 per barrel, after declining by 6% earlier in the session to its lowest point since June 9.

This drop follows a more than 7% plunge at the close of the previous session, after prices had hit a five-month high on Monday.

— (Petra)