Crude has dropped by more than 5% with prices now below the level when Israel first launched its attack.

A successful Iran-Israel ceasefire would abate concerns over Tehran's crude supplies and the stability of oil transport through the Strait of Hormuz.

Crude has dropped by more than 5% with prices now below the level when Israel first launched its attack.

SINGAPORE: Oil prices hit their lowest in two weeks on Tuesday after Israel agreed to US President Donald Trump’s proposal for a ceasefire with Iran, alleviating worries of supply…