US crude futures fall $12.04 to $100.90/bbl after Trump announces two week ceasefire

U.S. West Texas Intermediate crude fell more than $12 per barrel in early trade after President Trump said he had agreed to a ceasefire with Iran. The ceasefire announcement sharply reduced geopolitical risk, triggering a steep sell-off in oil and heightened near-term volatility for energy assets and related equities.

Analysis

U.S. West Texas Intermediate crude fell more than $12 per barrel in early trade after President Trump said he had agreed to a ceasefire with Iran. The ceasefire announcement sharply reduced geopolitical risk, triggering a steep sell-off in oil and heightened near-term volatility for energy assets and related equities.