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Crude oil futures settle higher on Friday

09 May 2026 Evaluate

Crude oil futures settled higher on Friday as Middle East tensions renewed after the exchange of fire between the U.S. and Iran. Iran is delaying its response to a U.S. peace proposal to end the war, adding to the uncertainty.

Benchmark crude oil futures for June delivery increased by $0.61 or 0.64% to settle at $95.42 a barrel on the New York Mercantile Exchange. Brent crude for July delivery rose by $1.23 or 1.23% to settle at $101.29 a barrel on the New York Mercantile Exchange.