Oil slides further after Trump announces Iran-Israel ceasefire: Live Updates
Crude prices tumbled even further late Monday after President Trump announced a ceasefire between Israel and Iran. This after U.S. stocks reversed losses ending the session with solid gains. Tesla shares spiked on robotaxi success. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Oil prices fell further after President Donald Trump announced a ceasefire between Iran and Israel Monday evening in a post on Truth Social.
Crude hit $65 per barrel in extended trading after West Texas Intermediate crude futures fell more than 8% to about $67 per barrel on Monday afternoon. Brent crude, the international benchmark, fell to $70 a barrel.
Oil prices spiked over the weekend after Iran fired missiles at a U.S. base in Qatar on Monday in retaliation for U.S. strikes on key Iranian nuclear sites over the weekend.
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The United States Oil Fund, the ETF that tracks domestic crude, has gained over 20% this month alone amid tensions between Israel, Iran and more recently the U.S.
Late Monday, President Donald Trump, announced a ceasefire in the Middle East between Israel and Iran.
"CONGRATULATIONS TO EVERYONE! It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in progress, final missions!), for 12 hours, at which point the War will be considered, ENDED! Officially, Iran will start the CEASEFIRE and, upon the 12th Hour, Israel will start the CEASEFIRE and, upon the 24th Hour, an Official END to THE 12 DAY WAR will be saluted by the World. During each CEASEFIRE, the other side will remain PEACEFUL and RESPECTFUL. On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, “THE 12 DAY WAR.” This is a War that could have gone on for years, and destroyed the entire Middle East, but it didn’t, and never will! God bless Israel, God bless Iran, God bless the Middle East, God bless the United States of America, and GOD BLESS THE WORLD!" he posted on Truth Social.
DONALD J. TRUMP,
PRESIDENT OF THE UNITED STATES OF AMERICA
Food and drug retailer Kroger plans to shrink its footprint across the nation. Leadership explained the rationale behind why certain stores will be impacted.
Shares have gained over 20% this year outperforming the S&P 500's 2% rise.
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The U.S. dollar experienced a volatile trading day on Monday in the wake of the U.S. joining Israel in attacking Iran's nuclear facilities.
The dollar strengthened during the Monday morning trading session, rising as much as 0.71% as investors flocked to the greenback, reaching its highest level since May, according to the WSJ Dollar Index, which measures the dollar against a basket of currencies.
As afternoon approached, the dollar gave up those gains and was down over 0.3% during mid-afternoon trading.
The dollar's slide occurred after dovish comments from Federal Reserve Governor Michelle Bowman suggesting that the central bank could cut interest rates as soon as its meeting next month.
This is an excerpt from a story by FOX Business' Eric Revell
| Symbol | Price | Change | %Change |
|---|---|---|---|
| I:DJI | $42,262.87 | 56.05 | 0.13 |
| SP500 | $5,987.90 | 20.06 | 0.34 |
| I:COMP | $19,530.85 | 83.44 | 0.43 |
U.S. stocks closed higher on Monday, reversing overnight losses, as investors reacted to U.S. strikes against key Iranian nuclear sites over the weekend and Iran's response.
The Dow Jones Industrial Average rose 374.96 points, or 0.89%, while the S&P 500 was up 0.96% and the Nasdaq Composite climbed 0.94%.
The turnaround suggests investors are looking at the U.S.-Iranian conflict as a short-term event, according to The Kobeissi Letter.
Meanwhile, oil prices fell below $70 per barrel.
Gold prices climbed higher even as U.S. stocks picked up momentum Monday despite the Iranian's firing missiles at a U.S. airbase in Qatar.
The precious metal touched $3,395 an ounce, giving a lift to the SPDR Gold Trust ETF, the largest backed by physical gold.
Gas prices at a station in Texas. (Getty Images)
Motorists don't have to worry about a massive spike in prices at the gas pump yet, according to industry analysts.
Oil prices, which account for more than half of what consumers pay at the pump, fell Monday morning after temporarily surging Sunday following U.S. strikes on three key Iranian nuclear sites over the weekend.
The price of West Texas Intermediate (WTI) sat around a one-year-high, while global benchmark Brent crude neared a five-month-high last week as the conflict between Israel and Iran intensified. As of Monday, WTI has dropped to around $73 a barrel and Brent is sitting around $76 a barrel.
GasBuddy's head of petroleum analysis, Patrick De Haan, said this is good news for those at the pump. "Knee jerk" reactions in the market are typical after major activity.
"Motorists will likely continue seeing a slow but steady increase in gas prices for now," De Haan said. "You don't really have to worry about massive spikes just yet."
This is an excerpt from a story by FOX Business' Daniella Genovese
Tesla shares spiked by double digits Monday after Tesla CEO Elon Musk successfully rolled out robotaxi entering the fast growing space of driverless cars.
President Donald Trump on the South Lawn at the White House on June 15, 2025, in Washington, D.C. (Tasos Katopodis/Getty Images)
President Donald Trump on Monday said "everyone" needs to "keep oil prices down."
"EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING!" Trump said in a post on Truth Social. "YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!"
| Symbol | Price | Change | %Change |
|---|---|---|---|
| CVX | $149.62 | 0.07 | 0.05 |
| XOM | $114.55 | -0.15 | -0.13 |
| COP | $94.18 | -0.51 | -0.54 |
| USO | $82.26 | -0.86 | -1.03 |
Fred Smith, the pioneering founder of FedEx, passed away at age 80, according to the company who remembered him in a post on X.
"Frederick W. Smith August 11, 1944 – June 21, 2025, Pioneer of an industry, founder of FedEx, mentor to many, a source of inspiration to all. Bravo Zulu."
President Donald Trump thanked the members of the military who carried out 'Operation Midnight Hammer' in a post on Truth Social Sunday.
"The GREAT B-2 pilots have just landed, safely, in Missouri. Thank you for a job well done!!! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES!" he posted.
With the U.S. now involved in the conflict between Iran and Israel, a key shipping route could threaten to disrupt global oil supply.
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President Donald Trump addressed the nation late Saturday after the U.S. took out Iran's key nuclear sites, saying the country's nuclear enrichment facilities were "totally obliterated."
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