Oil tumbles, shares rise as Trump claims Iran-Israel ceasefire
STORY: Oil prices tumbled again on Tuesday, after Donald Trump said Israel and Iran had agreed to a ceasefire.
Tehran's foreign minister later denied there was any formal agreement, but did say the country would stop its attacks if Israel ended what he called its 'illegal aggression'.
International benchmark Brent crude was down over 2% in Asian morning trade, with similar falls for U.S. oil.
That added to a 9% plunge the day before, when Iran did a token retaliation against a U.S. base in Qatar and signalled it was done for now.
The news appeared to lift concern that Tehran could move to block the Strait of Hormuz waterway, through which about a fifth of the world's oil is moved.
However, Alexis Investment Partners President Jason Browne says the drop in prices may have been exaggerated:
"So again, a lot of that is people that maybe put on some hedges because they were worried that the prices were going to go up significantly and now they've got unwind those hedges. It's probably a little bit of an overreaction at the moment. So expect some volatility there, but we don't expect huge spikes.'
Tuesday saw shares rally as tensions eased.
Benchmark indexes in Tokyo and Hong Kong gained 1% or more, while South Korea's Kospi index jumped 2.5%.
Tech stocks led the gains in Japan, with chip gear maker Tokyo Electron up over 4%.
The more positive mood also saw money flow out of traditional safe havens, with gold down over 0.5% in Asian morning trade.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
29 minutes ago
- CNBC
Was it all 'just a big show?' Anxiety and frustration for Middle East residents after Iran-Israel attacks
DUBAI, United Arab Emirates — Escalating regional war, or a bunch of choreographed theatre? Millions across the Middle East were told to shelter in place Monday night as the airspace closed above them and Iran fired a barrage of missiles over Al-Udeid air base in Qatar, the U.S.' largest and most fortified military base in the region. Videos of interceptors lighting up the night sky over Doha went viral on social media, while flight tracking platforms showed passenger jets on their way to Dubai and Abu Dhabi abruptly reversing course. The Iranian strike, which U.S. President Donald Trump later described as "weak" and which the White House says was telegraphed before it was carried out in order to minimize casualties, came in response to unprecedented U.S. strikes on Iran's nuclear facilities last week, which were carried out with the largest non-nuclear bombs on earth. Trump has declared a cease-fire and called for peace. It remains to be seen whether Israel and Iran will both accept and stick to a ceasefire, and still more questions remain: what happened to Iran's enriched uranium supplies? How much damage was done in all the strikes? Does it end here? Will Iran's government survive? Will airspace reopen and flights resume all over the region? People around the region expressed their feelings, fears and hopes in conversations with CNBC. Several of those individuals chose to do so on the condition of anonymity, due to the sensitive nature of their comments, and over concerns of repercussions from the state or from their employers. "In my opinion, this war had one winner — and that was the United States. Because it also showed Israel that without the United States, it cannot win — or even end —a war. And the second loser was the Islamic Republic, which realized it had no military capability to counter U.S. airstrikes, and that the U.S. could access every part of Iran whenever it wished. And the biggest losers were the people of Iran, whose national wealth was spent on nuclear enrichment — only for it all to be destroyed in a matter of nights." — H., oil and gas business director in Tehran, Iran "I'm so 'ehhh' about this. It just seemed like a big show. I guess everyone was waiting on how Iran will respond. This is probably the best case scenario to calm things down. I hope the focus goes back to Gaza now. Many people are still getting killed there everyday." — Saed Elayan, Palestinian entrepreneur living in Dubai "People are laughing at the very limited scope of Iran's operation against Al-Udeid. Yet Tehran actually managed to deliver a potent geostrategic message to the Gulf states: Instead of being a wellspring of protection, hosting American forces on their soil could — and indeed would — only invite devastating attacks." — Mo, Egyptian-American living in Cairo "We're completely fed up. We're angry, frustrated, sad, and scared. We feel helpless and we feel a massive amount of injustice. We're tired of being attacked and destabilized by the U.S. and Israel under the guise of 'freeing us from tyranny'. It's laughable and we all see through it — we just want to live in peace and not watch our cousins get slaughtered for simply wanting to exist." — Kareem, Egyptian entrepreneur living in Dubai "Honestly I am not all that bothered about Iran. They caused more deaths in Iraq in the last 70 years than Israel did in Palestine. And if they decide to bomb each other, who am I to object. My only hope is that they keep it to themselves without dragging the rest of the region into it." — A., Iraqi expat living in Dubai "Just like all the other little interactions between Iran and Israel this has been very, very short lived, and they basically just kind of had a little skirmish and then called it a day. I knew this was going to be nothing different. And the real telltale sign was the fact that ... the Islamic Republic has never officially entered a state of war. Because a war inherently needs a winner and a loser. But this wasn't a war. This was just kind of like a little, I don't know, slap fight, little like a b---- slap fight every now and then, and either way, both parties could walk away and save face and say both of them won, and they technically did, because there was no war, so there is technically no loser." — Amir Hamidfar, content creator and video editor, Isfahan, Iran "As a Lebanese with a business in Saudi and UAE I want this to be over as soon as possible. We stand at equal distance from not liking both countries [Iran and Israel] and are so resilient that we are not worried, but want this to be over." — Cam Khoury, Lebanese entrepreneur, Dubai "For me personally as a Swiss citizen, I feel safe in Dubai. But I feel very weird, living a normal life, posting on social media, it feels wrong. Currently mainly worried about the flight situation – while other people are scared for their life. And I'm just so shocked how Israel could just attack a sovereign state without little to no consequences." — Luisa, Swiss expat working in Dubai "I hate waking up and wondering what happened. I go to sleep having no idea what the region will look like in the morning. I should have gotten out of here sooner than I planned to, now if flights stay grounded I'm stuck. But hopefully this is the end of it and it doesn't get worse from here." — H., American expat in Dubai "There's been a deep sense of fear — not just of war, but of something unravelling. We're living under the shadow of an escalating existential threat, where the future feels somewhat fragile and uncertain. And yet, alongside that fear, there's a persistent hope: that this moment of crisis could also be a turning point for something better." — Cochav Elkayam Levy, chair of the Civil Commission, central Israel "My family are ok thank god… I think I'm more anxious than them. Holy s--- man, like this is it. It's now or never [for the Iranian regime to fall]. So much to be nervous about. So much to be hopeful about. So much to cry about. So much to express joy about. It's a goddamn bipolar experience right now to be Iranian." — S., Iranian expat and consultant in Dubai "I basically am concerned about safe havens like Dubai no longer being safe havens because the USA and Israel can act independently of any international rules and with impunity. That the rest of the region will be dragged into this war all because of egos. Will my property price be affected? Will Dubai no longer be a safe place to live? Will my relatives in Iraq be safe considering they are so close to Iran?" — F., Iraqi expat and lawyer in Dubai ""There's a sense of relief that Iran's nuclear, disruptive capabilities and proxies have been seriously degraded — but also deep anxiety about the risk of another full-scale regional war, and a fragile ceasefire unlikely to hold. Starting a war is one thing — ending it is another. You have to wonder if the Middle East is doomed to 'forever wars,' or if true conflict prevention and peacebuilding will ever take root." — Mazen Hayek, media consultant, Dubai "Neighboring countries have to unite and pressure Israel to stop their relentless attacks on Iran immediately for any chance of peace. The current environment is a little scary for many and will negatively impact tourism, real estate, investors, and overall safety in the Persian Gulf. As a long time resident who lived through all the conflicts since Gulf War I, I am deeply concerned – for Iran and all countries on the Arabian Peninsula." — K., energy consultancy founder, European expat in Dubai
Yahoo
38 minutes ago
- Yahoo
Netanyahu says Israel accepts ceasefire and has achieved war goals against Iran
Israel and Iran on Tuesday accepted a ceasefire plan proposed by US President Donald Trump to end their 12-day war, after Tehran launched a retaliatory limited missile attack on a US military base in Qatar. The acceptance of the deal by both sides came after Tehran launched a final onslaught of missiles targeting Israel that killed at least four people early on Tuesday morning, while Israel launched a blitz of airstrikes targeting sites across Iran before dawn. Israeli Prime Minister Benjamin Netanyahu said Israel had agreed to a bilateral ceasefire with Iran in co-ordination with Mr Trump. Mr Netanyahu said that he had reported to Israel's security cabinet on Monday night that Israel had achieved all of its war goals in the 12-day operation against Iran, including removing the threat of Iran's nuclear and ballistic missile programmes. Israel also damaged Iran's military leadership and several government sites and achieved control over Tehran's skies, Mr Netanyahu said. 'Israel will respond forcefully to any violation of the ceasefire,' Mr Netanyahu said. The Iranian barrages had sent Israelis hurrying into bomb shelters as the sun rose, killing at least four people and injuring eight others, Israel's Magen David Adom rescue services said. Iran on its state television announced an overall ceasefire had begun at 7.30am local time. The barrage damaged at least three densely packed residential buildings in the city of Beersheba, police said. First responders said they retrieved four bodies from one building and were searching for more. Outside, the shells of burned out cars littered the streets. Broken glass and rubble covered the area. Hundreds of emergency workers gathered to search for anyone else trapped in the buildings. Police said some people were injured even while inside their apartments' reinforced safe rooms, which are meant to withstand rockets and shrapnel but not direct hits from ballistic missiles. The direct hit in the largest city in southern Israel came just days after the city's hospital sustained significant damage in a missile strike. The Israeli military said people could leave bomb shelters but cautioned the public to stay close to shelter for the coming hours. Mr Trump's announcement that Israel and Iran had agreed to a 'complete and total ceasefire' came soon after Iran launched a limited missile attack on Monday on a US military base in Qatar, retaliating for the American bombing of its nuclear sites. The US was warned by Iran in advance, and there were no casualties. "CONGRATULATIONS WORLD, IT'S TIME FOR PEACE!" –President Donald J. Trump — The White House (@WhiteHouse) June 23, 2025 Mr Trump's announcement on his Truth Social platform said the ceasefire beginning about midnight Washington time would bring an 'Official END' to the war. There were no reports of Israeli strikes in Iran after 4am in Tehran. Heavy Israeli strikes continued in Iranian cities until shortly before that time. Under the Trump plan, Israel was to halt its attacks on Iran by 1.30pm Tehran time. There was no report of Israel launching attacks against Iran since early Tuesday morning. Writing more than an hour after the first phase of the tentative ceasefire, which called for Iran to halt its attacks, Mr Trump added: 'THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES!' Mr Trump gave the conflict between Israel and Iran a name: the '12 Day War'. That recalls the 1967 Mideast war, known by some as the 'Six Day War,' in which Israel fought a group of Arab countries including Egypt, Jordan and Syria. Mr Trump's reference carries emotional weight for the Arab world, particularly Palestinians. In the 1967 war, Israel captured the West Bank and east Jerusalem from Jordan, the Gaza Strip and the Sinai Peninsula from Egypt, and the Golan Heights from Syria. Though Israel later gave the Sinai back to Egypt, it still holds the other territories. Mr Trump communicated directly with Mr Netanyahu to secure the ceasefire, according to a senior White House official who insisted on anonymity to discuss the Monday talks. Vice president JD Vance, Secretary of State Marco Rubio and special envoy Steve Witkoff communicated with the Iranians through direct and indirect channels. The White House has maintained that the Saturday bombing helped get the Israelis to agree to the ceasefire and that the Qatari government helped to broker the deal. It is unclear what role Ayatollah Ali Khamenei, Iran's leader, played in the talks. He said earlier on social media that he would not surrender. Israel's Airports Authority said Iran's barrage forced them to close the country's airspace to emergency flights for several hours. Some flights were forced to circle over the Mediterranean Sea, according to Israeli media. Israel's airports have been closed since the war with Iran began, but a handful of emergency flights started arriving and departing over the past few days. By early on Tuesday, Qatar Airways resumed its flights after Qatar shut down its airspace over the Iranian attack on Al Udeid Air Base. Flight-tracking data showed commercial aircraft again flying in Qatari airspace, signalling Doha believed the threat on the energy-rich nation had passed. In Israel, at least 24 people have been killed and more than 1,000 wounded in the war. Israeli strikes on Iran have killed at least 974 people and wounded 3,458 others, according to the Washington-based group Human Rights Activists. The group, which has provided detailed casualty figures from Iranian unrest such as the protests surrounding the death of Mahsa Amini in 2022, said of those killed, it identified 387 civilians and 268 security force personnel. The US has evacuated some 250 American citizens and their immediate family members from Israel by government, military and charter flights that began over the weekend, a State Department official said. There are roughly 700,000 American citizens, most of them dual US-Israeli citizens, believed to be in Israel.
Forbes
38 minutes ago
- Forbes
These Are The 25 Bestselling Whisky Brands In The World
It might have a Scottish-sounding name, but Indian brand McDowell's is the bestselling whisky in the ... More world, if you're flexible on your definition of 'whisky'. In 2018, I was trying to find a list of the bestselling whiskies in the world by volume and was struggling. While that information was easy to find for separate categories, such as Scotch or Bourbon, I quickly wrote up what (I think) was one of the first lists that actually collated the bestselling global brands. It's been a while since I wrote the last one though, so I thought it's high time to update the list given that The Spirits Business recently released its 2025 Brand Champions report covering sales of all kinds of drinks from around the world. I've simply pulled the figures from the report covering whisky and collated it here into an easy-reading list. Some notes. The figures below incorporate sales from 2024, covering millions of 9-liter cases sold. So for example, 1 million cases sold means a total of 9 million liters. If you don't follow whisky and drinks trends, you'll be surprised to see just how much Indian whisky is sold (almost all of it consumed domestically). For those who do follow these kinds of figures, you'll be surprised to see that Johnnie Walker has finally managed to break into the top 4 which for the last few years was dominated by Indian brands McDowell's, Royal Stag, Imperial Blue, and Officer's Choice. As you'll see from the figures below, the latter has taken a hit in sales compared to Johnnie Walker's smaller dip. At the bottom of the article is a quick little graph I drafted up with the figures in case it's useful. And finally, I'm not picky at all about what gets counted as 'whisky' here. If it's labelled as 'whisky' in the report, then it makes this list. This is an important distinction especially when it comes to many Indian whisky brands, which often incorporate molasses in their production (these are classified within the country as 'Indian-made foreign liquor, or IMFL). With that, the world's bestselling whiskies are: 1. McDowell's Whisky Owner: United SpiritsCountry: IndiaSales: 2020: 25.7m | 2021: 30.1m | 2022: 30.8m | 2023: 31.4m | 2024: 32.2mGrowth: +2.6% 2. Royal Stag Owner: Pernod RicardCountry: IndiaSales: 2020: 18.5m | 2021: 22.4m | 2022: 27.1m | 2023: 27.9m | 2024: 31.0mGrowth: +11.1% 3. Imperial Blue Owner: Pernod RicardCountry: IndiaSales: 2020: 21.3m | 2021: 24.1m | 2022: 24.0m | 2023: 22.8m | 2024: 22.9mGrowth: +0.5% 4. Johnnie Walker Owner: DiageoCountry: ScotlandSales: 2020: 14.1m | 2021: 19.1m | 2022: 22.7m | 2023: 22.1m | 2024: 21.6mGrowth: –2.0% 5. Officer's Choice Owner: Allied Blenders & DistillersCountry: IndiaSales: 2020: 20.8m | 2021: 23.2m | 2022: 24.9m | 2023: 23.4m | 2024: 21.3mGrowth: –9.0% 6. Jim Beam Owner: Suntory Global SpiritsCountry: USASales: 2020: 16.4m | 2021: 17.0m | 2022: 16.6m | 2023: 17.0m | 2024: 17.5mGrowth: +2.9% 7. Jack Daniel's Owner: Brown-FormanCountry: USASales: 2020: 12.3m | 2021: 13.5m | 2022: 14.6m | 2023: 14.3m | 2024: 14.1mGrowth: –1.5% 8. Jameson Owner: Pernod RicardCountry: IrelandSales: 2020: 7.7m | 2021: 9.6m | 2022: 11.1m | 2023: 10.2m | 2024: 10.8mGrowth: +6.3% 9. Blenders Pride Owner: Pernod RicardCountry: Whisky – IndianSales: 2020: 6.6m | 2021: 8.0m | 2022: 9.5m | 2023: 9.6m | 2024: 10.1mGrowth: +5.0% 10. 8PM Owner: Radico KhaitanCountry: Whisky – IndianSales: 2020: 9.4m | 2021: 11.4m | 2022: 11.9m | 2023: 12.2m | 2024: 9.6mGrowth: –20.8% 11. Ballantine's Owner: Pernod RicardCountry: Whisky – ScotchSales: 2020: 7.0m | 2021: 8.7m | 2022: 9.2m | 2023: 8.2m | 2024: 9.3mGrowth: +13.9% 12. Royal Challenge Owner: United SpiritsCountry: Whisky – IndianSales: 2020: 4.3m | 2021: 4.7m | 2022: 7.2m | 2023: 8.6m | 2024: 9.1mGrowth: +6.7% 13. Crown Royal Owner: DiageoCountry: Whisky – CanadianSales: 2020: 8.1m | 2021: 9.0m | 2022: 8.4m | 2023: 7.7m | 2024: 8.0mGrowth: +4.0% 14. Iconiq White Whisky Owner: Allied Blenders & DistillersCountry: Whisky – IndianSales: 2020: N/A | 2021: N/A | 2022: N/A | 2023: 1.6m | 2024: 4.5mGrowth: +181.3% 15. Chivas Regal Owner: Pernod RicardCountry: Whisky – ScotchSales: 2020: 3.2m | 2021: 4.1m | 2022: 5.2m | 2023: 4.6m | 2024: 4.8mGrowth: +4.8% 16. Kakubin Owner: Suntory Global SpiritsCountry: Whisky – JapaneseSales: 2020: 3.7m | 2021: 3.6m | 2022: 4.3m | 2023: 4.2m | 2024: 4.0mGrowth: –4.5% 17. Black Nikka Owner: Asahi BreweriesCountry: Whisky – JapaneseSales: 2020: 3.3m | 2021: 3.3m | 2022: 3.5m | 2023: 4.0m | 2024: 4.0mGrowth: 0.0% 18. Sterling Reserve Owner: Allied Blenders & DistillersCountry: Whisky – IndianSales: 2020: 2.8m | 2021: 3.6m | 2022: 5.0m | 2023: 5.1m | 2024: 3.9mGrowth: –23.5% 19. Director's Special Owner: United SpiritsCountry: Whisky – IndianSales: 2020: 3.1m | 2021: 2.9m | 2022: 3.0m | 2023: 3.3m | 2024: 3.6mGrowth: +9.4% 20. Canadian Club Owner: Suntory Global SpiritsCountry: Whisky – CanadianSales: 2020: 5.9m | 2021: 6.2m | 2022: 6.5m | 2023: 6.2m | 2024: 5.3mGrowth: –15.2% 21. Signature Owner: United SpiritsCountry: Whisky – IndianSales: 2020: 1.9m | 2021: 2.0m | 2022: 2.5m | 2023: 2.9m | 2024: 3.3mGrowth: +13.4% 22. Dewar's Owner: BacardiCountry: Whisky – ScotchSales: 2020: 2.5m | 2021: 2.8m | 2022: 3.5m | 2023: 3.3m | 2024: 3.3mGrowth: +1.8% 23. Evan Williams Owner: Heaven Hill BrandsCountry: Whiskey – AmericanSales: 2020: 3.0m | 2021: 3.1m | 2022: 3.1m | 2023: 3.1m | 2024: 3.1mGrowth: –1.3% 24. William Lawson's Owner: BacardiCountry: Whisky – ScotchSales: 2020: 3.3m | 2021: 3.4m | 2022: 3.5m | 2023: 3.4m | 2024: 3.2mGrowth: –4.4% 25. Black & White Owner: DiageoCountry: Whisky – ScotchSales: 2020: 2.9m | 2021: 3.1m | 2022: 3.6m | 2023: 3.2m | 2024: 3.0mGrowth: –5.4% And here is the data in chart form below: The world's bestselling whiskies, as reported by the Spirits Business 2025 Brand Champions report.
