COMMODITY
Crude oil futures settle lower amid hopes of US-Iran peace agreement
Jun-12-2026

Crude oil futures settled lower on Thursday, after U.S. President Donald Trump indicated that a peace agreement with Iran could be reached as early as this weekend. Trump stated that the proposed deal would help restore shipping through the Strait of Hormuz and include Iran's commitment not to develop nuclear weapons.

Benchmark crude oil futures for July delivery decreased by $2.32 or 2.58% to settle at $87.71 a barrel on the New York Mercantile Exchange. Brent crude for August delivery declined by $2.72 or 2.92% to settle at $90.38 a barrel on the New York Mercantile Exchange. 


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