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Crude oil futures settle lower on Tuesday

17 Jun 2026 Evaluate

Crude oil futures settled sharply lower on Tuesday amid fading concerns over transit disruptions due to an imminent U.S.-Iran deal. Besides, report stated that the United States will allow Iran to immediately resume oil and fuel sales under a proposed agreement aimed at ending the recent conflict, offering Tehran an early economic incentive while potentially boosting global crude supplies and easing energy prices. 

Benchmark crude oil futures for July delivery decreased by $4.70 or 5.82% to settle at $76.05 a barrel on the New York Mercantile Exchange. Brent crude for August delivery declined by $4.21 or 5.06% to settle at $78.96 a barrel on the New York Mercantile Exchange.


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