Energy Prices Fall After Ceasefire

Global energy prices fell sharply on Tuesday, retreating below pre-conflict levels after U.S. President Donald Trump announced a ceasefire between Israel and Iran, CE Report quotes Anadolu Agency

Brent crude, which had surged following Israel’s June 13 strike on Iran, dropped 3.8% to $66.86 per barrel—below its $69.65 close on June 12. Prices had spiked to $77.81 amid U.S. and Iranian military actions but reversed after Iran’s retaliation caused minimal damage and casualties.

European natural gas followed a similar pattern. TTF July futures peaked at €41.62 per megawatt-hour on June 19, the highest since March. Following the ceasefire news, prices fell to €35.61—about 12% lower than the previous close and below pre-conflict levels.

Despite the market relief, analysts warn that the ceasefire remains fragile and that renewed escalation could again disrupt energy supply routes like the Strait of Hormuz.