COMMODITY
Crude oil futures settle higher on Tuesday
Jun-03-2026

Crude oil futures settled higher on Tuesday as the signing of the U.S.-Iran Memorandum of Understanding to discuss ways to end the gulf crisis gets delayed. Additionally, the global energy watchdog warned of accelerating crude oil inventory depletion. 

Benchmark crude oil futures for July delivery increased by $1.60 or 1.74% to settle at $93.76 a barrel on the New York Mercantile Exchange. Brent crude for August delivery was up by $1.02 or 1.07% to settle at $96 a barrel on the New York Mercantile Exchange. 


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