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Dow Jones NewsJun 24, 3:24 AM UTC
DJ Credibility of Middle East Ceasefire Could Determine Oil Prices -- Market Talk
0324 GMT - Whether Israel and Iran adhere to the potential ceasefire will determine oil prices, Phillip Nova analyst Priyanka Sachdeva says in a research note. Headlines are driving oil prices, with wild price actions indicating that investor sentiment is on edge, she says. After U.S. President Trump said Israel and Iran agreed to a ceasefire, oil prices have fallen to levels seen just before the Israeli attacks, merely within a few hours, she says. Markets still await official confirmations from Israel and Iran, as Iran's foreign minister denied Trump's ceasefire claims. Iran is the third-largest oil producer in OPEC and eased tensions could help ensure a steady flow of oil to the global market, she adds. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
June 23, 2025 23:24 ET (03:24 GMT)
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