NEW YORK, June 9 (Reuters) – Oil prices fell about 3% to a seven-week low on Tuesday after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump.
Trump said Iran shot down a U.S. helicopter in the Strait of Hormuz and he threatened that Washington would respond. Oil prices bounced off session lows following his remarks.
Brent futures fell $2.80, or 3.0%, to settle at $91.45 a barrel. U.S. West Texas Intermediate (WTI) crude slid $3.10, or 3.4%, to settle at $88.20.
It was the lowest settlement for Brent since April 17 and for WTI since May 29. It was also the first time since January that Brent closed below its 100-day moving average of technical support.
Link: https://finance.yahoo.com/markets/commodities/articles/oil-rises-slightly-investors-await-004702356.html