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Crude oil futures settle lower on Thursday

05 Jun 2026 Evaluate

Crude oil futures settled lower on Thursday as the ceasefire agreement between Israel and Lebanon raised hopes of easing tensions in the Middle East, while the U.S. House approved a resolution seeking to curb President Donald Trump’s war powers.

Benchmark crude oil futures for July delivery decreased by $2.98 or 3.10% to settle at $93.04 a barrel on the New York Mercantile Exchange. Brent crude for August delivery was down by $2.78 or 2.84% to settle at $95.03 a barrel on the New York Mercantile Exchange.