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Jun 24, 2025
Oil prices plunge, global stocks surge amid Israel-Iran truce
Oil prices took a big dip after Israel and Iran agreed to a ceasefire. Brent crude dropped 5.6%, slipping below where it was before the conflict began.
The official word from both countries' leaders helped calm worries that had sent prices soaring close to $80 per barrel.
TL;DR
Global stocks surge on oil price dip
The ceasefire sparked a wave of optimism in global markets—S&P 500 futures rose 1%, European stocks climbed 1.5%, and Asian shares had their best day in months.
The US dollar lost ground while gold prices slid, and currencies like the New Zealand and Australian dollars got a boost.
Meanwhile, investors in Japan stayed cautious ahead of key US economic updates, keeping an eye on what's next for the markets.