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Crude oil futures settle lower on Friday

27 Jun 2026 Evaluate

Crude oil futures settled lower on Friday as shipping activity through the Strait of Hormuz continued to recover following the ceasefire between the US and Iran, easing concerns over disruptions to global crude supplies and reducing the geopolitical risk premium.

Benchmark crude oil futures for August delivery decreased by $2.69 or 3.74% to settle at $69.23 a barrel on the New York Mercantile Exchange. Brent crude for August delivery fell by $3.27 or 4.34% to settle at $71.99 a barrel on the New York Mercantile Exchange.