COMMODITY
Crude oil futures end lower amid growing hopes of Strait of Hormuz reopening
Sep-23-2026

Crude oil futures closed lower on Tuesday, amid growing hopes that diplomatic efforts to resolve the U.S.-Iran conflict could lead to the reopening of the Strait of Hormuz sooner rather than later. Meanwhile, U.S. President Donald Trump, at the United Nations General Assembly, said that he believed the U.S. could reach a deal with Iran shortly after the November midterm elections.

Benchmark crude oil futures for November delivery declined by $1.85 or 2.00% to settle at $90.52 a barrel on the New York Mercantile Exchange. Brent crude for November delivery decreased by $1.09 or 1.09% to settle at $99.25 a barrel on the New York Mercantile Exchange.


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