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Oil Drops as Iran-Israel Tensions Ease

UncategorizedTechnical Analysis
By Ahmed Ashraf
Oil Drops as Iran-Israel Tensions Ease
0 6

USOIL

النفط الخام 24-6-2025

Oil is trading below the resistance zone of $67.75, and prices are likely to move sideways between the aforementioned resistance zone and the support level of $64.25 during today’s trading.

Support

 64.25 62.25 60
Resistance 67.75 70.50

73

Crude oil prices saw a sharp decline following the announcement of a sudden political de escalation in the Middle East, which eased the geopolitical tensions that had recently weighed on the markets. This breakthrough reduced fears of disruptions in oil supply, particularly through key shipping routes, causing Brent crude to drop to around $68 and West Texas Intermediate (WTI) to fall below $66 per barrel.

Markets responded quickly to the news of the truce, with oil losing a significant portion of its previous gains amid a decline in demand for risk hedging, leading to a notable drop in prices during today’s trading session.

You can now benefit from LDN company’s services through the LDN Global Markets trading platform.

Ahmed Ashraf

Technical Analyst & Economic Researcher at LDN Global Markets

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