# Oil prices are falling so much it’s now cheaper than it was before the Iran-Israel conflict | CNN Business

> Oil prices fell sharply on Tuesday, returning to levels seen before the Iran-Israel conflict, after a fragile ceasefire between the two countries. Benchmark crude dropped 6.1% to $67.14 a barrel.

- Date: 2025-06-24 · published 2025-06-24T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/9614-oil-prices-are-falling-so-much-it-s-now-cheaper-than-it-was-before-the-iran
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Removal of the conflict premium pulls crude back toward pre-war levels, lowering energy and transport costs that feed into feed prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2025-06-26 | 5 | -14.7% | -3.6 | Crude dropped 6.1% to $67.14, fully erasing the conflict premium and confirming the sharp sentiment-driven sell-off. |
| BRENT | 2025-06-25 | 5 | -13.5% | -3.7 | Crude fell 6.1% to $67.14 on June 24, back to pre-conflict levels as the ceasefire erased the geopolitical premium. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| BRENT | 2020-01-08 | [Oil prices plunge as Trump speech eases Iran fears \| CNN Business](https://feedsoft.ai/events/9660-oil-prices-plunge-as-trump-speech-eases-iran-fears-cnn-business.md) | -5.9% | -21.3% |
| BRENT | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | +4.1% | +27.2% |
| BRENT | 2026-03-23 | [Oil Prices Fall More Than 10% After Trump Postpones Iran Strikes](https://feedsoft.ai/events/11451-oil-prices-fall-more-than-10-after-trump-postpones-iran-strikes.md) | +1.5% | -13.8% |
| BRENT | 2024-10-28 | [Oil prices drop by 6% as Israel's strike on Iran avoids energy facilities  \| The National](https://feedsoft.ai/events/28027-oil-prices-drop-by-6-as-israel-s-strike-on-iran-avoids-energy-facilities-the.md) | -3.3% | -0.3% |
| 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 | 2020-01-08 | [Oil prices plunge as Trump speech eases Iran fears \| CNN Business](https://feedsoft.ai/events/9660-oil-prices-plunge-as-trump-speech-eases-iran-fears-cnn-business.md) | -7.0% | -18.9% |
| WTI | 2026-03-10 | [Oil prices dive as Trump says Iran war will end ‘very soon’ \| CNN Business](https://feedsoft.ai/events/6630-oil-prices-dive-as-trump-says-iran-war-will-end-very-soon-cnn-business.md) | -1.3% | +20.4% |

## Sources

- cnn.com: https://www.cnn.com/2025/06/24/business/oil-prices-fall-iran-israel-ceasefire-intl

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