COMMODITY
Crude oil futures end sharply lower on Tuesday
Aug-26-2026

Crude oil futures ended sharply lower on Tuesday following reports that Iran and Oman had discussed establishing a temporary joint maritime corridor, in the Strait of Hormuz. Meanwhile, the U.S. administration’s move to isolate Iran economically instead of launching military strikes was seen as an early sign of easing tensions in the Gulf.

Benchmark crude oil futures for October delivery declined by $2.65 or 3.12% to settle at $82.36 a barrel on the New York Mercantile Exchange. Brent crude for October delivery decreased by $3.59 or 3.89% to settle at $88.58 a barrel on the New York Mercantile Exchange.  


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