LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

Oil prices fall more than 4% after Trump says China can continue buying oil from Iran

Robert Frost by Robert Frost
June 24, 2025
in Industries
Oil prices fall more than 4% after Trump says China can continue buying oil from Iran
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


Oil prices fell sharply Tuesday after President Donald Trump said China can keep buying oil from Iran, a sign that the U.S. is easing its maximum pressure campaign on the Islamic Republic in the wake of a ceasefire with Israel.

Global benchmark Brent fell $3.33, or 4.66%, to $68.15 per barrel by 10:18 a.m. ET. U.S. crude oil was last down $3.18, or 4.64%, to $65.33 a barrel. Prices closed 7% lower on Monday as the oil market bet that the conflict in the Middle East was winding down.

“China can now continue to purchase Oil from Iran,” Trump said in a post on his social media platform Truth Social. “Hopefully, they will be purchasing plenty from the U.S., also. It was my Great Honor to make this happen!”

Trump threatened in May to bar any country buying Iranian oil from doing business with the U.S. China purchases the vast majority of the 1.7 million barrels per day that Iran typically exports, according to data from Kpler.

Oil prices have tumbled to levels last seen before Israel started bombing Iran on June 13, as investors now believe the risk is low that a major supply disruption will occur the Middle East.

The U.S. decision to join Israel’s campaign and bomb three key nuclear sites in Iran over the weekend initially triggered fears that Tehran might try to choke off oil exports from the Persian Gulf in retaliation.

Iran 'oil shock' could be a month away, says BCA Research's Matt Gertken

Instead, Tehran launched a missile attack on a U.S. airbase in Qatar that left no casualties, providing an offramp from further escalation. Trump announced a ceasefire agreement between Israel and Iran shortly afterward.

The ceasefire teetered on the brink of collapse early Tuesday as Trump accused both Iran and Israel of violating the agreement shortly after it went into effect. The president demanded that Jerusalem and Tehran adhere to the ceasefire, reserving unusually harsh words for Israel.

“I’m not happy with Israel,” Trump told reporters en route to a NATO summit in the Netherlands. “I’m not happy with Iran either but I’m really unhappy if Israel” continues its bombing campaign Tuesday.

Throughout the conflict, traders feared that Israel might target the 3.3 million bpd of crude oil that Iran produces, or that the Islamic Republic might lash out by targeting energy infrastructure in the Gulf nations, including Iraq.

Investors also watched if Iran would try to close the Strait of Hormuz linking the Persian Gulf and the Gulf of Oman. The strait, used to transport 20% of the world’s crude, is a key route for Iranian and other Middle Eastern shipments, including Saudi Arabia, the world’s largest oil exporter, the United Arab Emirates, Iraq, Kuwait and Bahrain.



Source link

You might also like

Nexamp found a faster way to build solar – it did the utility’s job, too

The Genesis GV90 really does have coach doors: Here’s our first look

Elon Musk on Tesla’s new ‘affordable’ electric car: it’s the Model Y

Share30Tweet19
Previous Post

Predictive intelligence is the upgrade blockchain can’t afford to miss

Next Post

Using options to buy the dip on this credit card name while hedging risk

Robert Frost

Robert Frost

Jutawantoto Jutawantoto Jutawantoto Jutawantoto Berita Terbaru Hari

Recommended For You

Nexamp found a faster way to build solar – it did the utility’s job, too
Industries

Nexamp found a faster way to build solar – it did the utility’s job, too

July 24, 2025
The Genesis GV90 really does have coach doors: Here’s our first look
Industries

The Genesis GV90 really does have coach doors: Here’s our first look

July 24, 2025
Elon Musk on Tesla’s new ‘affordable’ electric car: it’s the Model Y
Industries

Elon Musk on Tesla’s new ‘affordable’ electric car: it’s the Model Y

July 24, 2025
This MIT spinout’s electric bricks store heat hotter than lava
Industries

This MIT spinout’s electric bricks store heat hotter than lava

July 24, 2025
Next Post
Using options to buy the dip on this credit card name while hedging risk

Using options to buy the dip on this credit card name while hedging risk

Related News

The ‘Bitcoin Family’ has a special algorithm that tracks moon cycles — and it’s helped them gain 50% since the bear market bottom

The ‘Bitcoin Family’ has a special algorithm that tracks moon cycles — and it’s helped them gain 50% since the bear market bottom

July 11, 2023
Two stocks for investors’ buy lists during this sell-off, according to Tim Seymour

Two stocks for investors’ buy lists during this sell-off, according to Tim Seymour

March 13, 2025
MAGA memecoin hints at another 'Trump pump' ahead of Bitcoin 2024 conference

MAGA memecoin hints at another 'Trump pump' ahead of Bitcoin 2024 conference

July 19, 2024

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?