Skip to main content

MoneyWorks4Me

Crude oil futures settle lower as optimism on US-Iran deal increases

13 Jun 2026 Evaluate

Crude oil futures settled lower on Friday, after U.S. President Donald Trump claimed that an U.S.-Iran interim peace agreement will be signed over this weekend and affirmed soon after that the Strait of Hormuz will reopen, resulted in waning of supply disruption concerns.

Benchmark crude oil futures for July delivery decreased by $2.83 or 3.23% to settle at $84.88 a barrel on the New York Mercantile Exchange. Brent crude for August delivery declined by $3.05 or 3.37% to settle at $87.33 a barrel on the New York Mercantile Exchange.