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Crude oil futures settle slightly lower on Thursday

17 Jul 2026 Evaluate

Crude oil prices ended slightly lower on Thursday as hopes grew that the U.S. and Iran may resolve their conflict through diplomacy. Meanwhile, OPEC+'s decision to increase crude oil production by 188,000 barrels per day in August added further downward pressure on prices.

Benchmark crude oil futures for August delivery decreased by $0.65 or 0.82% to settle at $78.95 a barrel on the New York Mercantile Exchange. Brent crude for September delivery down by $0.72 or 0.85% to settle at $84.23 a barrel on the New York Mercantile Exchange.