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Crude oil futures end lower as Trump pauses Iran attack plans

20 May 2026 Evaluate

Crude oil futures settled lower on Tuesday after U.S. President Donald Trump said he had postponed a planned military strike on Iran to allow more time for negotiations aimed at ending the conflict in the Middle East. Even as Iran awaits the U.S. response to a peace plan it sent days before through Pakistan, the Strait of Hormuz continues to remain shut, tightening global oil supplies.  

Benchmark crude oil futures for July delivery decreased by $0.23 or 0.22% to settle at $104.15 a barrel on the New York Mercantile Exchange. Brent crude for July delivery was down by $0.82 or 0.73% to settle at $111.28 a barrel on the New York Mercantile Exchange.