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Crude oil futures settle higher on Tuesday

22 Jul 2026 Evaluate

Crude oil prices ended higher on Tuesday as investors awaited developments in mediatory efforts to end the U.S.-Iran conflict even as the U.S. attacked Iran for the 10th straight day, reinforcing supply concerns due to the Strait of Hormuz crisis. 

Benchmark crude oil futures for September delivery increased by $1.86 or 2.26% to settle at $84.34 a barrel on the New York Mercantile Exchange. Brent crude for September delivery was up by $1.79 or 2.01% to settle at $91.01 a barrel on the New York Mercantile Exchange.