Geopolitical tensions surrounding the Israel-Iran conflict have diminished following President Trump's announcement of a ceasefire. This development has had a significant impact on financial markets, particularly leading to a sharp decline in Brent crude oil prices, which fell to $69.25 per barrel, the lowest since June 11. The drop in prices is partly attributed to a failed missile strike by Iran on a US airbase, easing concerns about potential disruptions in oil supply. Market reactions included a rally in Asia-Pacific stocks and a dip in the US dollar as investors shifted from safe-haven assets.
Markets reacted positively as President Trump announced a ceasefire between Israel and Iran, resulting in a significant drop in Brent crude oil prices, hitting $69.25 per barrel.
The easing of geopolitical tensions led to a selloff in oil prices, which unexpectedly dropped by 3.1% on Tuesday morning after Trump's ceasefire announcement.
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