Oil prices pare back losses amid doubts over Israel-Iran ceasefire

Oil prices were lost after a sharp drop due to Donald Trump’s announcement of the ceasefire between Israel and Iran, which reduced the doubts that the truce will keep.

Donald Trump wrote on the social truth platform on Tuesday morning: “It was fully agreed by Israel and Iran that there will be a full ceasefire,” Donald Trump wrote on the social truth platform on Tuesday morning. Then Israel confirmed that it “agreed” to the proposal.

In response, Brent crude, the global standard, decreased for the second day, at first to more than 5 % to 67.65 dollars (49.83 pounds) per barrel, after it decreased by 7 % on Monday.

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However, the price was traded only by 3 % at $ 69.21 a barrel later on Tuesday, the lowest level since June 12. The Israeli army said it had discovered another Iranian barrage of missiles hours after the ceasefire began, which was rejected by the Iranian media. Israeli Defense Minister Israel Katz said that Israel would respond “strongly.”

The financial markets were raised with the ceasefire news. In London, FTSE 100 increased by 0.3 %, while DAX increased in Germany by approximately 2 %. In Asia, Japanese Nikki increased by 1.1 % and Hang Kong Hang Sings gained by 2.1 %.

“While the agreement appears at first strong, this is still a very fluid situation,” said Kathleen Brooks, XTB. [Israel Defense Forces] This morning, the missiles fired Israel from Iran, causing oil prices losses, as Brent crude fell about $ 70 a barrel.

“Brent crude increased nearly 20 % last month as the war installment was linked to the oil price, which is now not bolbled. However, if there are more signs that the ceasefire does not hold, we can see the resumption of oil prices in its upward direction.”

The shares of airlines and travel companies rose to the ceasefire news, participating in Air France KLM, British Air Air owner, Wizz Air and Lufthansa in Germany, rose between 5 % and 8 % in early trading. The largest travel operator in Europe, TUI, jumped by 8 %, while Intercontinental hotels increased by 3.5 %, and the French company ACCOR increased by 6 %.

Airlines continue to stop some flights to the Middle East, due to safety concerns, despite the ceasefire news. BA has stopped all flights to Doha until June 25, and Carrier Wizz Air canceled flights to and from the United Arab Emirates until June 30.

SAGA SARA reported that its trips in the oceans and river were a strong start for this year, and said it was not affected by the Middle East dispute. Do not provide cruises to the region and sell holidays only to Jordan and Egypt.