COMMODITY
Crude oil futures end lower amid hopes of US-Iran settlement
Nov-04-2026

Crude oil futures closed lower on Tuesday as growing optimism over a potential agreement between the U.S. and Iran weighed on prices. However, concerns over a possible escalation in tensions following U.S. strikes on Qeshm Island limited the downside. Meanwhile, U.S. Vice President JD Vance hinted at progress in negotiations but did not commit to any finalization of an agreement.

Benchmark crude oil futures for December delivery declined by $0.37 or 0.38% to settle at $96.09 a barrel on the New York Mercantile Exchange. Brent crude for January delivery fell by $1.17 or 1.12% to settle at $103.60 a barrel on the New York Mercantile Exchange.


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