COMMODITY
Crude oil futures end lower amid escalating US-Iran tensions
Jun-13-2025

Crude oil futures closed lower on Thursday, pulling back after a sharp rally in the previous session, as escalating geopolitical tensions between the United States and Iran raised market volatility. President Donald Trump had stated that he was less confident of a US-Iran nuclear deal though he affirmed that the US would not let Iran develop nuclear weapons. Responding, Iran's defense minister sternly said that if a conflict erupts, Iran would attack US bases. Adding to concerns, the UK Maritime Trade Organization has issued a warning to ships to be aware of the threat of increased military activity in the gulf. Reports state that Israel is planning to attack Iran and Iran could retaliate by attacking certain US sites in Iraq.

Benchmark crude oil futures for July decreased $0.11or about 0.16% at $68.04 a barrel on the New York Mercantile Exchange. Brent crude for August delivery declined $0.41 or 0.59% to settle at $69.36 a barrel on London's Intercontinental Exchange.

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