# Oil prices drop 6% as Israel-Iran ceasefire reduces Middle East supply risk | Reuters

> Oil prices fell 6% on June 24 to a two-week low on expectations that the Israel-Iran ceasefire would reduce the risk of Middle East supply disruptions.

- Date: 2025-06-23 · published 2025-06-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/8643-oil-prices-drop-6-as-israel-iran-ceasefire-reduces-middle-east-supply-risk
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A sharp drop in crude lowers energy and freight costs and reduces the geopolitical premium that had supported energy-linked feed input prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2025-06-26 | 5 | -12.7% | -2.9 | Oil fell 6% on June 24 to a two-week low as the Israel-Iran ceasefire cut Middle East supply-disruption risk, a major contributor to the 5-day WTI drop. |
| BRENT | 2025-06-26 | 5 | -14.7% | -3.6 | Oil fell 6% on June 24 to a two-week low as the ceasefire cut Middle East supply-risk expectations, a major leg of the weekly decline. |
| BRENT | 2025-06-25 | 5 | -13.5% | -3.7 | Oil fell 6% to a two-week low on June 24 on expectations that the ceasefire would cut supply disruption risk. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -2.3% | — |
| WTI | 2025-06-25 | [Israel-Iran war highlights Mideast's declining influence on oil prices \| Reuters](https://feedsoft.ai/events/9611-israel-iran-war-highlights-mideast-s-declining-influence-on-oil-prices-reuters.md) | +1.8% | +3.1% |
| WTI | 2024-04-17 | [Oil prices fall more than 3% as traders discount Iran-Israel war risk](https://feedsoft.ai/events/30931-oil-prices-fall-more-than-3-as-traders-discount-iran-israel-war-risk.md) | -2.3% | -7.9% |
| WTI | 2026-03-24 | [Oil prices drop 2% as Iran considers US proposal to end war \| Reuters](https://feedsoft.ai/events/8151-oil-prices-drop-2-as-iran-considers-us-proposal-to-end-war-reuters.md) | +17.0% | +4.7% |
| WTI | 2026-04-08 | [Brent crude oil prices drop amid Iran war ceasefire \| Trucking Dive](https://feedsoft.ai/events/10141-brent-crude-oil-prices-drop-amid-iran-war-ceasefire-trucking-dive.md) | -18.9% | -8.3% |
| BRENT | 2026-10-29 | [US oil prices fall as investors gauge risks to Mideast supply By Reuters](https://feedsoft.ai/events/252-us-oil-prices-fall-as-investors-gauge-risks-to-mideast-supply-by-reuters.md) | -5.4% | — |
| BRENT | 2025-06-25 | [Israel-Iran war highlights Mideast's declining influence on oil prices \| Reuters](https://feedsoft.ai/events/9611-israel-iran-war-highlights-mideast-s-declining-influence-on-oil-prices-reuters.md) | -1.1% | +1.5% |
| BRENT | 2024-04-17 | [Oil prices fall more than 3% as traders discount Iran-Israel war risk](https://feedsoft.ai/events/30931-oil-prices-fall-more-than-3-as-traders-discount-iran-israel-war-risk.md) | -2.5% | -9.9% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/us-crude-oil-futures-fall-over-3-trump-announces-israel-iran-ceasefire-2025-06-23/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.