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US-Iran ceasefire stabilizes oil; WTI drops to $72.72, Brent holds $76.32, NatGas rises to $3.154 amid steady supply.

Market News
24 Jun 2026
FXEmpire
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Neutral
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The US-Iran ceasefire has held for over eleven weeks, easing tensions and allowing tanker traffic through the Strait of Hormuz to resume gradually. WTI crude oil prices fell to $72.72, breaking below key technical support, signaling bearish momentum, while Brent crude stabilized at $76.32, showing signs of support within a descending channel. Natural gas futures rose to $3.154, maintaining bullish momentum supported by strong US production and steady demand. Overall, oil markets reflect balanced supply and demand with OPEC+ discipline and robust US shale output, while natural gas markets remain healthy with record production and strong exports. Investors should watch key support levels for potential price moves.

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