COMMODITY
Crude oil futures end higher amid rising geopolitical tensions
Jun-11-2026

Crude oil futures settled higher on Wednesday as tensions in the Middle East remained elevated following renewed hostilities between the United States and Iran. Concerns over potential supply disruptions persisted due to the ongoing closure of the Strait of Hormuz. Meanwhile, data from the American Petroleum Institute (API) showed that U.S. crude oil inventories fell by 9.1 million barrels for the week ended June 5, significantly exceeding market expectations of a 34,00,000-barrel draw, after a decline of 67,00,000 barrels in the previous week.

Benchmark crude oil futures for July delivery increased by $1.83 or 2.07% to settle at $90.03 a barrel on the New York Mercantile Exchange. Brent crude for August delivery gained by $1.65 or 1.80% to settle at $93.1 a barrel on the New York Mercantile Exchange. 


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