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Express News | It is reported that the ceasefire between Israel and Iran has entered the implementation stage.
Express News | President Trump: The ceasefire agreement is now in effect, please do not violate it.
Oil and gas stocks are declining, and Trump states that a ceasefire agreement will be reached with Iran.
On the news front, international crude oil prices fell sharply overnight, with WTI Crude Oil futures August contract dropping by 7.22%, and Brent Crude Oil futures August contract falling by 7.18%. On June 24, at the beginning of the Asian market, international oil prices plummeted again, with U.S. WTI Crude Oil futures dropping more than 6% at one point.
Trump called for lowering oil prices, the U.S. Energy Secretary "responded", and U.S. oil briefly fell over 7% from its daily high.
Trump posted, noting that lowering oil prices is important, stating that rising oil prices are "helping the enemy," and named the US Energy Department, demanding, "Start drilling now." The Energy Secretary responded in a post saying, "We are taking action." In the face of the danger of soaring oil prices after the US strikes Iran's nuclear facilities, President Trump calls for lower oil prices. On Monday, June 23, Eastern Time, in the early trading session of the US stock market, Trump stated on his social media platform that he hopes oil prices remain stable due to concerns that a possible attack on Iran's nuclear facilities could lead to a significant increase in oil prices. According to Sina, Trump posted in all capital letters, saying: "Everyone, pay attention."
Express News | Former President Trump stated, "Everyone, bring down the oil prices. I'm watching!"
After the U.S. strikes Iran, how will international oil prices move? Goldman Sachs has simulated four possible scenarios.
Goldman Sachs believes that the current oil prices include a geopolitical risk premium of about 10 dollars per barrel. In the extreme scenario of Iran closing the Strait of Hormuz, international oil prices would rise to the Range of 120-150 dollars, similar to the price behavior at the beginning of the Russia-Ukraine conflict. Under the impact of high oil prices, the trend of a stronger dollar will further strengthen; U.S. stocks will undergo a significant correction, and AI-related Stocks, due to the highest concentration of Hold Positions, will be the most affected.
