Oil edges up as market weighs Iran-Israel truce stability

News Image

MG News | June 25, 2025 at 12:45 PM GMT+05:00

0:00

June 25, 2025 (MLN): Oil prices edged higher on Wednesday, finding some respite after plummeting in the last two sessions, as investors assessed the stability of a ceasefire between Iran and Israel.

Brent crude futures increased by $1.27, or 1.89%, to $68.41 per barrel.

West Texas Intermediate (WTI) crude futures rose by $1.21, or 1.88%, to $65.58 per barrel by [12:45 pm] PST.


Brent settled on Tuesday at its lowest since June 10 and WTI since June 5, both before Israel launched a surprise attack on key Iranian military and nuclear facilities on June 13.

The earlier rally that pushed prices to five-month highs came after U.S. airstrikes targeted Iran’s nuclear facilities over the weekend.

However, a preliminary U.S. intelligence assessment indicated that the strikes failed to destroy Iran’s nuclear capability, merely delaying it by a few months.

The market appeared to ease as a fragile ceasefire, brokered by U.S. President Donald Trump, began to take hold.

Both Iran and Israel signaled Tuesday that the air war between them had paused, at least temporarily, after Trump publicly criticized both for violating the truce.

Civilian restrictions in both countries were lifted following 12 days of conflict, during which the U.S. joined the fray with attacks on Iran’s uranium enrichment infrastructure.

Each side has since sought to declare victory, as CNBC reported.

Oil traders had previously feared the conflict would disrupt flows through the Strait of Hormuz a vital maritime route between Iran and Oman through which 18–19 million barrels per day of crude and fuel pass, accounting for nearly a fifth of global consumption.

Meanwhile, attention has shifted to upcoming U.S. government inventory data due Wednesday.

According to market sources citing American Petroleum Institute (API) figures, U.S. crude stockpiles fell by 4.23m barrels in the week ended June 20, which could further influence price movements.

Copyright Mettis Link News


Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,030.00 119,450.00
115,635.00
4160.00
3.65%
BRENT CRUDE 70.31 70.53
68.55
1.67
2.43%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.37 68.59
66.50
1.80
2.70%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25


July 11, 2025 at 04:19 PM GMT+05:00

Ideal Spinning Mills to exit spinning business



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg