COMMODITY
Crude oil futures settle lower amid hopes of easing Iran-Israel conflict
Jun-17-2025

Crude oil futures ended lower on Monday amid reports that Iran signaling its readiness to end the hostility with Israel. According to a private report, Iran has sent messages via intermediaries to the US and Israel stating its readiness end the hostility and re-start nuclear talks. Additionally, OPEC+ members already have excess capacity to replace any disruption in oil supply in the Persian Gulf.

Benchmark crude oil futures for July plunged $1.21 or about 1.66% at $71.77 a barrel on the New York Mercantile Exchange. Brent crude for August delivery fell $1 or 1.35% to settle at $73.23 a barrel on London's Intercontinental Exchange.

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