India, June 24 -- Crude oil tumbled on Tuesday as the Israel-Iran conflict cooled down after an announcement by the US President of a ceasefire between the warring nations.
WTI Crude Oil closed down by $4.14 to settle at $64.37 per barrel.
August Brent Crude was last seen trading, down by $4.19 to $67.29.
Israel's "Operation Rising Lion" attacks on Iran which began on June 12th turned into a serious conflict with the US joining Israel by bombing three key nuclear sites in Iran last weekend. Oil prices rallied to five-month highs after these attacks and then declined. The losses extended even today.
Despite openly vowing to respond strongly to the attacks, Iran could manage to target only a US air base in Qatar.
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