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macroJun 9, 2026, 12:37 AM

WTI Slides Below $89.50 as Iran and Israel Agree to Cease Attacks

West Texas Intermediate crude oil edged lower to near $89.40 per barrel during Asian hours after Iran and Israel reportedly agreed to halt attacks. The price fell over 1% in the previous session.

WTI

West Texas Intermediate (WTI) crude continued to decline on Monday, trading around $89.40 per barrel during Asian hours. The move follows a more than 1% drop in the prior session.

The selling pressure comes after reports that Iran and Israel have agreed to halt mutual attacks, reducing geopolitical risk premiums in the oil market. Traders are reassessing supply disruption fears that had previously pushed prices higher.

No further details on the ceasefire agreement have been released, but the development marks a potential de-escalation in the region. WTI remains sensitive to any changes in Middle East tensions.

Source: FXStreet Forex News