# Cease-Fire Announcement Sends Oil Prices Even Lower

> Benchmark US crude futures tumbled after Iran's retaliation for US weekend bombings targeted a US military base in Qatar rather than energy infrastructure or tankers. Futures settled 7.2% lower at $68.51 a barrel after a ceasefire announcement.

- Date: 2025-06-23 · published 2025-06-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/9999-cease-fire-announcement-sends-oil-prices-even-lower
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Iran's limited response reduced fears of a Strait of Hormuz disruption, removing a supply-risk premium from crude. Lower energy prices weaken the cost support for biofuel-linked oils and feed ingredients.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2025-06-23 | 1 | -5.8% | -4.5 | US crude fell 7.2% after Iran's retaliation targeted a military base rather than energy infrastructure, a supply-risk repricing that carried over to Brent on the same day. |
| BRENT | 2025-06-26 | 5 | -14.7% | -3.6 | US crude settled 7.2% lower after Iran's retaliation targeted a base rather than energy infrastructure, easing supply fears. |
| BRENT | 2025-06-25 | 5 | -13.5% | -3.7 | US crude fell 7.2% after Iran's retaliation hit a base rather than energy infrastructure and a ceasefire followed, reflecting a supply-risk repricing. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-08 | [Oil: Prices slump below $100 on ceasefire – ING](https://feedsoft.ai/events/6904-oil-prices-slump-below-100-on-ceasefire-ing.md) | -18.9% | -8.3% |
| WTI | 2024-08-01 | [Oil prices fall 2% to six-week low on ceasefire talks, demand concerns](https://feedsoft.ai/events/29442-oil-prices-fall-2-to-six-week-low-on-ceasefire-talks-demand-concerns.md) | -3.4% | -4.7% |
| WTI | 2026-04-07 | [Oil tumbles below $100 after Trump announces two-week ceasefire \| Reuters](https://feedsoft.ai/events/6897-oil-tumbles-below-100-after-trump-announces-two-week-ceasefire-reuters.md) | -11.7% | -4.3% |
| WTI | 2026-04-08 | [Oil prices plunge on Trump's US-Iran ceasefire post](https://feedsoft.ai/events/6900-oil-prices-plunge-on-trump-s-us-iran-ceasefire-post.md) | -18.9% | -8.3% |
| 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 | 2026-04-08 | [Oil: Prices slump below $100 on ceasefire – ING](https://feedsoft.ai/events/6904-oil-prices-slump-below-100-on-ceasefire-ing.md) | -13.7% | -8.7% |
| BRENT | 2024-08-01 | [Oil prices fall 2% to six-week low on ceasefire talks, demand concerns](https://feedsoft.ai/events/29442-oil-prices-fall-2-to-six-week-low-on-ceasefire-talks-demand-concerns.md) | -3.4% | -2.1% |
| BRENT | 2026-04-07 | [Oil tumbles below $100 after Trump announces two-week ceasefire \| Reuters](https://feedsoft.ai/events/6897-oil-tumbles-below-100-after-trump-announces-two-week-ceasefire-reuters.md) | -6.5% | -1.7% |

## Sources

- wsj.com: https://www.wsj.com/livecoverage/stock-market-today-trump-tariffs-trade-war-06-23-2025/card/oil-futures-sink-following-attacks-on-u-s-bases-eNo7sI66C2uFPtLz1hF9

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