Crude oil futures closed lower on Tuesday amid indications that crude oil exports from Saudi Arabia's Red Sea ports are recovering from an attack on a key pipeline earlier this month. Also, the report said US and Iranian officials spoke separately with mediators as part of a renewed effort to end seven months of war.
Benchmark crude oil futures for November delivery decreased by $3.22 or 3.48% to settle at $89.38 a barrel on the New York Mercantile Exchange. Brent crude for November delivery fell by $2.69 or 2.56% to settle at $102.59 a barrel on the New York Mercantile Exchange.