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Crude oil futures end lower amid hopes of US-Iran deal

21 Oct 2026 Evaluate

Crude oil futures closed lower on Tuesday amid growing optimism about a potential US-Iran deal. Reports indicated that Qatar and Pakistan were pushing for an agreement that would address the demands of both nations. Additionally, Trump said U.S. forces were ready to leave the Middle East, suggesting Washington had achieved its goal of preventing Iran from acquiring nuclear weapons.

Benchmark crude oil futures for December delivery decreased by $0.72 or 0.73% to settle at $97.82 a barrel on the New York Mercantile Exchange. Brent crude for December delivery declined by $0.76 or 0.69% to settle at $108.79 a barrel on the New York Mercantile Exchange.