# Latest Oil Market News and Analysis for June 24 - Bloomberg

> Oil prices fell sharply over two sessions as US President Donald Trump signaled he wants to keep oil flowing out of Iran after brokering a fragile ceasefire between Tehran and Israel. Intermediate crude plunged nearly 15% to settle near $64 a barrel.

- Date: 2025-06-23 · published 2025-06-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/9998-latest-oil-market-news-and-analysis-for-june-24-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Lower crude prices reduce the cost of biofuel feedstocks and diesel, which weakens the energy-linked support for vegetable oils and grain-based feed ingredients. The lower risk premium on Middle East supply points to softer energy prices across the complex.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2025-06-25 | 5 | -13.5% | -3.7 | WTI plunged nearly 15% over two sessions as Trump signaled he wants Iranian oil to keep flowing, which sums up the cumulative decline. |
| BRENT | 2025-06-26 | 5 | -14.7% | -3.6 | Crude plunged over two sessions as Trump signaled he wanted Iranian oil to keep flowing, lowering the risk premium. |
| BRENT | 2025-06-23 | 1 | -5.8% | -4.5 | It covers the two-session plunge, of which the June 23 drop was the first leg, but the ceasefire-driven second leg came after the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-05-02 | [Latest Oil Prices, Market News and Analysis for May 3 - Bloomberg](https://feedsoft.ai/events/7231-latest-oil-prices-market-news-and-analysis-for-may-3-bloomberg.md) | -0.1% | -1.9% |
| WTI | 2023-08-23 | [Latest Oil Prices, Market News and Analysis for August 23 - Bloomberg](https://feedsoft.ai/events/34758-latest-oil-prices-market-news-and-analysis-for-august-23-bloomberg.md) | +1.1% | +11.6% |
| WTI | 2024-03-25 | [Opec+ 7 agree another output target hike in August \| Latest Market News](https://feedsoft.ai/events/31111-opec-7-agree-another-output-target-hike-in-august-latest-market-news.md) | +4.1% | +3.2% |
| WTI | 2020-03-09 | [AP Explains: The oil market meltdown and its global impact \| AP News](https://feedsoft.ai/events/4420-ap-explains-the-oil-market-meltdown-and-its-global-impact-ap-news.md) | -23.0% | -31.2% |
| WTI | 2026-03-09 | [Oil Futures Fall As Market Looks for Shorter War - WSJ](https://feedsoft.ai/events/6631-oil-futures-fall-as-market-looks-for-shorter-war-wsj.md) | +8.5% | +25.0% |
| BRENT | 2023-08-23 | [Latest Oil Prices, Market News and Analysis for August 23 - Bloomberg](https://feedsoft.ai/events/34758-latest-oil-prices-market-news-and-analysis-for-august-23-bloomberg.md) | +1.9% | +12.9% |
| BRENT | 2024-03-25 | [Opec+ 7 agree another output target hike in August \| Latest Market News](https://feedsoft.ai/events/31111-opec-7-agree-another-output-target-hike-in-august-latest-market-news.md) | +1.9% | +2.3% |
| BRENT | 2020-03-09 | [AP Explains: The oil market meltdown and its global impact \| AP News](https://feedsoft.ai/events/4420-ap-explains-the-oil-market-meltdown-and-its-global-impact-ap-news.md) | -27.3% | -36.6% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2025-06-23/latest-oil-market-news-and-analysis-for-june-24

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