Mumbai, June 24 -- WTI crude oil futures tumbled over 6% to around $64.38 per barrel on Tuesday, touching a two-week low after President Trump confirmed a ceasefire deal between Israel and Iran, calming supply disruption fears. Brent crude also slid more than 3% to a session low of $67.50, its weakest since June 11. The Israeli government and Tehran both agreed to end the 12-day conflict, boosting hopes for stability in the region. Tuesday's drop deepened a 7% fall from the previous session when Iran retaliated against US strikes by hitting a US base in Qatar. On the domestic front, MCX July crude futures plunged over 5% to a session low of Rs 5514 per barrel.
Published by HT Digital Content Services with permission from Capital Market....