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🚀 Oil prices fall 6% due to ceasefire

🚀 Oil prices fall 6% due to ceasefire

Liam Gill
June 25, 2025

Market Overview
Read time 1.4 minutes

Year To Date Performances:

Dow Jones	43,089.02	1.28%
S&P 500	6,092.18	3.58%
Nasdaq	19,912.53	3.12%
Russell 2000	2,161.21	-3.09%
TSX	26,718.62	8.05%
Bitcoin	$106,101.80	9.53%
Ethereum	$2,448.43	-27.70%
US to Canadian Dollar	$1.37	-4.63%

Oil prices plunged for a second straight day as the Israel-Iran ceasefire eased fears of a major supply disruption. U.S. crude dropped 6% to $64.37, and Brent fell 6.1% to $67.14—erasing all gains made during the recent conflict. Despite initial threats, Iran refrained from closing the Strait of Hormuz or escalating attacks after U.S. airstrikes, opting instead for a symbolic missile strike with no casualties. President Trump’s mixed messaging on China buying Iranian oil added confusion, though the White House insists sanctions remain. With risk premiums evaporating, oil has returned to pre-conflict levels.
Home prices are cooling faster than expected, with national gains slowing to 2.7% in April, down from 3.4% in March, according to the S&P CoreLogic Case-Shiller Index, the smallest rise in nearly two years. Markets once booming during the pandemic, like Tampa and Dallas, are now seeing price declines, while traditional markets such as New York, Chicago, and Detroit are leading gains. Despite higher mortgage rates near 7% and more homes hitting the market, overall supply remains tight, keeping prices from collapsing. Experts say this rebalancing reflects a shift from pandemic-era speculation to fundamentals-driven pricing.
OpenAI CEO Sam Altman dismissed as “silly” and “disappointing” a lawsuit filed by hardware startup Iyo, which claims OpenAI’s $6.4 billion deal with Jony Ive’s startup "io" infringes on its trademark. Iyo alleges the use of “io” threatens its identity and won a temporary court order blocking OpenAI from using the name. In response, OpenAI pulled the announcement from its site. Altman shared emails showing Iyo’s founder had previously sought acquisition and investment from OpenAI, suggesting the suit is retaliatory. Iyo, meanwhile, insists “there are 675 other two-letter names” OpenAI could’ve used.
Headlines
1. Speaker Johnson claims that the War Powers Act, which limits the President’s power to declare war, is unconstitutional.
2. Regulators are investigating Tesla after numerous videos surfaced of robotaxis getting into accidents.

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