Trump posted on Truth Social that both countries had agreed to “PEACE” and called it the end of the “12 Day War.”
Crude oil futures fell more than 2 per cent on Tuesday morning after US President Donald Trump announced that Israel and Iran agreed to a ceasefire. This news alleviated fears of oil supply disruptions from West Asia.
At 9.56 am on Tuesday, September, Brent oil futures were at $68.85, down by 2.37 per cent, and August crude oil futures on WTI (West Texas Intermediate) were at $66.64, down by 2.73 per cent. July crude oil futures were trading at ₹5761 on Multi Commodity Exchange (MCX) during the initial hour of trading on Tuesday against the previous close of ₹6046, down by 4.71 per cent, and August futures were trading at ₹5693 against the previous close of ₹5944, down by 4.22 per cent.
In a post on the social media platform Truth Social, Trump said: “Israel & Iran came to me, almost simultaneously, and said, “PEACE!” I knew the time was NOW. The World, and the Middle East, are the real WINNERS! Both Nations will see tremendous LOVE, PEACE, AND PROSPERITY in their futures. They have so much to gain, and yet, so much to lose if they stray from the road of RIGHTEOUSNESS & TRUTH. The future for Israel & Iran is UNLIMITED, & filled with great PROMISE. GOD BLESS YOU BOTH!”.
In a different post, Trump said both Israel and Iran have fully agreed to a ceasefire. “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!”
Meanwhile, media reports that quoted Iran’s Foreign Minister Abbas Araghchi said there’s no agreement on a ceasefire with Israel. However, Iran will halt attacks if Israel stops its ‘illegal aggression’ by 4 am local time (00:30 GMT), he said.
In a post on social media platform X, Araghchi said: “The military operations of our powerful Armed Forces to punish Israel for its aggression continued until the very last minute, at 4 am. Together with all Iranians, I thank our brave Armed Forces who remain ready to defend our dear country until their last drop of blood, and who responded to any attack by the enemy until the very last minute.”
Continued war would have impacted oil shipments through the Strait of Hormuz. Nearly one-fifth of the world’s crude oil cargo passes through this link. It is to be noted here that Iran’s Parliament had decided to close the Strait of Hormuz in response to US strikes on Iran.
Crude oil prices had settled over 7 per cent lower on Monday following a muted response from Iran to US attacks on its nuclear infrastructure.
June aluminium futures were trading at ₹245.55 on MCX during the initial hour of trading on Tuesday, down by 1.25 per cent from the previous close of ₹248.65.
On the National Commodities and Derivatives Exchange (NCDEX), July jeera contracts were trading at ₹19265 in the initial hour of trading on Tuesday against the previous close of ₹19140, up by 0.65 per cent.
July guargum futures were trading at ₹9500 on NCDEX in the initial hour of trading on Tuesday against the previous close of ₹9487, down by 0.14 per cent.
Published on June 24, 2025