Oil prices fall nearly 6% following the ceasefire between Iran and Israel.

Following the "ceasefire" between Israel and Iran announced by US President Donald Trump, the price of a barrel of oil fell by around 6% on Tuesday. Thus, the cost of a barrel of Brent crude , the benchmark for Europe, fell by up to 5.8% compared to Monday's close, when it closed at $72.07 , losing more than 7% despite starting the day with a climb close to $80.

Thus, at the market's opening, the price of a barrel of Brent crude oil was trading at $67.34 , its lowest price in two weeks and more than 17% below the $81.40 it reached yesterday.

Likewise, the price of West Texas Intermediate (WTI) crude, the benchmark for the United States, fell by up to 6% on Tuesday to trade at $64.39 per barrel .

Strong performance on the stock market. Following Israel's approval of the ceasefire announced by Trump between the East and Iran, and pending the outcome of the takeover bid by BBVA and Sabadell , the Madrid index opened with a 1.39% rise. Thus, the Ibex 35 opened Tuesday's session at 14,012.3 points around 9:00 a.m. The biggest gains this morning were recorded by Amadeus (+3.35%) and BBVA (+2.81%), while the sharpest declines were recorded by Repsol (-4.61%) and IAG (-1.72%).

Their European counterparts opened the second session of the week with increases of 1.95% for Frankfurt, 1.74% for Paris, 1.48% for Milan, and 0.66% for London.

"The ceasefire is already in effect. Please do not violate it," the US president said on his Truth Social account, where he announced hours earlier about an agreement for "a complete and total ceasefire" once both countries "complete their ongoing missions."

In this regard, Israeli Prime Minister Benjamin Netanyahu confirmed this Tuesday that the Israeli government has accepted a ceasefire with Iran and stressed that the decision was taken considering that it "has achieved the objectives" of its offensive against the Central Asian country, while warning that it "will respond strongly" if Iran launches new attacks against its territory.

For his part, Iranian Foreign Minister Abbas Araqchi had denied the existence of a ceasefire agreed with Israel, and stated that the Iranian authorities would make a decision on this matter "later," although he affirmed that "as long as the Israeli regime ceases its illegal aggression against the Iranian people by 4:00 a.m. at the latest, there is no intention to continue our response."