Crude oil futures end lower amid easing Middle East tensions

Crude oil futures closed lower on Monday amid hopes that ongoing diplomatic efforts could help de-escalate tensions in the Middle East. Meanwhile, U.S. President Donald Trump indicated that a meeting with Iranian President Masoud Pezeshkian in New York could take place, saying that very big things could happen soon. Trump also said he remains in a ‘deciding mode’ on military action, continued economic pressure or a deal.

Benchmark crude oil futures for October delivery declined by $4.52 or 4.51% to settle at $95.78 a barrel on the New York Mercantile Exchange. Brent crude for November delivery decreased by $3.53 or 3.40% to settle at $100.34 a barrel on the New York Mercantile Exchange.

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