COMMODITY
Crude oil futures end higher on Thursday
Nov-06-2026

Crude oil futures closed higher on Thursday amid lingering uncertainty, as investors closely monitored the next steps the U.S. administration may take to resolve the ongoing standoff with Iran. Meanwhile, Tehran is reportedly reviewing proposals from mediators but wants the U.S. to lift its naval blockade, ease sanctions, and release frozen assets before fully reopening the Strait of Hormuz.

Benchmark crude oil futures for December delivery surged by $2.40 or 2.72% to settle at $90.52 a barrel on the New York Mercantile Exchange. Brent crude for January delivery jumped by $3.67 or 3.88% to settle at $98.29 a barrel on the New York Mercantile Exchange.


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