Oil prices fell by more than 5% against the background of the agreement between Israel and Iran

Oil prices increased their decline on Tuesday, with Brent crude dropping below $68 per barrel for the first time in two weeks. August Brent futures on the London ICE Futures Exchange fell 5.2% to $67.76 per barrel. At the same time, WTI futures fell 5.18% to $64.96 per barrel.

During morning trading, Brent recorded a minimum of $ 67.50, and WTI — $64.79 per barrel.

The reason for the decline in quotes was the news from Washington: earlier, US President Donald Trump announced that Israel and Iran had reached a full ceasefire agreement. Later, Israeli Prime Minister Benjamin Netanyahu confirmed his country's readiness to end the military conflict.

Investors see this as an important signal for the stabilization of the situation in the region, which reduces the risks of disruptions in oil supplies from the Middle East. The day before, on Monday, prices fell by more than 7% in response to Tehran's strike on the American base in Qatar — it was perceived by the market as a symbolic reaction of Iran to the US attack on its nuclear facilities.