COMMODITY
Crude oil futures settle lower amid US-Iran pact to ease conflict
Jun-16-2026

Crude oil futures settled sharply lower on Monday after the U.S. and Iran announced reaching an agreement to discuss ways to end their mutual conflict. The framework allows immediate resumption of free flow of oil and energy trade via the Strait of Hormuz.

Benchmark crude oil futures for July delivery decreased by $4.13 or 4.87% to settle at $80.75 a barrel on the New York Mercantile Exchange. Brent crude for August delivery declined by $4.16 or 4.76% to settle at $83.17 a barrel on the New York Mercantile Exchange.


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