Oil prices rise despite fragile ceasefire between Iran and Israel

Published on 25/06/2025 - 8:08 GMT+2

Investors kept an oculus connected nan Middle East connected Wednesday arsenic a vulnerable ceasefire betwixt Iran and Israel appeared to clasp aft first shakiness.

Both sides claimed victory; Iran’s president said Israel had suffered a “historic punishment”, while Israel’s premier curate based on nan violative had removed “the Iranian atomic threat”.

A caller US intelligence study nevertheless recovered that Tehran’s atomic programme had only been group backmost by a fewer months by US strikes. Washington denied nan findings of nan leaked report.

Early successful Europe, Brent crude had risen astir 1.15% to $67.91 a barrel, while WTI was 1.21% higher astatine $65.15. The prices propose nan marketplace has still not afloat calmed aft nan conflict successful nan Middle East, pinch investors continuing to show nan shaky ceasefire.

US President Trump rebuked some countries for violating nan announced ceasefire connected Tuesday. 

“Israel, arsenic soon arsenic we made nan deal, they came retired and they dropped a load of bombs, nan likes of which I’ve ne'er seen before, nan biggest load that we’ve seen,” he said.

On his societal media platform, Truth Social, he wrote: “Israel, do not driblet those bombs. If you do, it is simply a awesome violation. Bring your pilots home, now!”

Trump claimed that neither Iran nor Israel "know what nan f*** they're doing".

Stocks, meanwhile, roseate modestly connected Wednesday. Dow Jones futures roseate 0.06% to 43,452.00, while S&P 500 futures gained 0.05% to 6,149.25.

In Asian trading, nan Shanghai Composite scale climbed 0.44% to 3,435.60, nan Nikkei 225 roseate 0.31% to 38,910.93, Hong Kong’s Hang Seng jumped 0.78% to 24,364.79, while South Korea’s Kospi was almost flat, rising 0.01% to 3,104.20.

Australia’s S&P/ASX 200 notched up 0.09% to 8,563.20.

The US Dollar Index was up 0.13% astatine 97.98 though nan rate has still grounded to retrieve from losses seen earlier this year. The euro roseate little than 1% against nan dollar while nan Japanese Yen dropped astir 0.12% against its US safe-haven alternative.

“The business successful nan Middle East is fluid. While nan downside risks person subsided, nan business tin alteration quickly and nan equilibrium of risks remains weighted toward higher lipid prices,” said Ryan Sweet, Chief US Economist astatine Oxford Economics, connected Tuesday.