Crude oil futures snapped five-day gaining streak and ended lower on Thursday amid easing geopolitical tensions. Fears of an imminent U.S. action against Iran ebbed as U.S. President Donald Trump appeared to soften rhetoric against Iran. Trump said he had received information ‘on good authority’ that Iran has stayed fast trials and executions of protesters, signaling he may hold off on attacking the country for now.
Benchmark crude oil futures for February delivery declined $2.83 or 4.56% to settle at $59.19 a barrel on the New York Mercantile Exchange. Brent crude for March delivery decreased $2.76 or 4.14% to settle at $63.76 a barrel on London's Intercontinental Exchange.
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