Israel-Iran ceasefire set to drive oil prices toward $60 range: Experts Related news

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ANKARA Oil prices slumped more than 12% last week, snapping a three-week rally, with analysts expecting them to stabilize around the $60 range in the near term if a fragile ceasefire between Israel and Iran is maintained. Brent crude climbed to $77.81 a barrel on June 23 after US strikes targeted Iranian nuclear facilities, briefly touching a five-month peak. But prices tumbled 8.5% in a single session to $69.48 after Iran's retaliatory strike on a US base in Qatar was deemed limited in scope.