Oil prices fall in global markets

Israel has agreed to stop its military aggression in Lebanon. The ceasefire has had an impact on the oil market. However, due to caution in the market, prices have not fallen much.

Brent crude futures fell by $1.14, or 1.2 percent, as of 4:30 PM Bangladesh time on Thursday (June 4). This brought the price of oil to $96.67 per barrel. At the same time, US West Texas Intermediate crude fell by 90 cents, or 0.9 percent, to $95.12.

The prices of these two types of oil rose by about 2 percent on Wednesday as tensions in the Middle East increased.

PVM Oil analyst John Evans said that Iran is demanding an end to Israel's aggression in Lebanon. That is, it is talking about stopping attacks on Hezbollah.