Oil prices recovered a little on Wednesday after sliding earlier this week, as investors assessed the stability of a ceasefire between Iran and Israel, while support also came from data that showed U.

Oil prices are expected to fall further if the ceasefire between Iran and Israel holds, according to experts. Things took a dramatic turn on Tuesday after US President Donald Trump announced a ceasefire and expressed his desire to maintain the flow of oil from Iran.

The fear throughout the Israel-Iran conflict is that it could squeeze the world’s supply of oil, which would pump up gas prices and hurt the global economy.