Oil rises, gold falls: market reaction after Israel-Iran ceasefire
Illustrative photo: oil prices (Getty Images)
Gold prices have declined, while oil prices have risen following the largest two-day drop since 2022, amid the ceasefire between Iran and Israel, according to Bloomberg.
Brent crude oil rose by about 1%, reaching nearly $68 per barrel, following a 13% drop over the past two days. West Texas Intermediate (WTI) also climbed above $65.
Vandana Hari, founder of Vanda Insights, noted that following a two-day decline, a modest correction in crude oil prices was anticipated. She added that although the market would be closely watching the fragile ceasefire between Iran and Israel, attention was likely to return soon to broader economic conditions, US tariff talks, and developments within OPEC+.
Meanwhile, gold prices fell by 1.3%, down to $3,325 per ounce. According to Bloomberg, geopolitical uncertainty amid trade tensions led to a 27% price increase in 2025. In April, gold hit a record high of $3,500 per ounce.
Market response to Israeli strikes on Iran
Israel launched strikes on Iran’s nuclear and military facilities on June 13. This triggered a series of retaliatory missile exchanges between the two countries.
The situation immediately impacted global markets: oil and gold prices surged sharply after Israel’s strikes, while stock markets fell.
