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Crude oil futures close lower on Monday

27 Oct 2026 Evaluate

Crude oil futures closed lower on Monday as stepped-up diplomatic efforts bolstered hopes that a broader escalation in the US-Iran war could be averted. However, further Houthi attacks on Saudi Arabia kept concerns about Middle East supply risks alive.

Benchmark crude oil futures for December delivery decreased by $1.51 or 1.46% to settle at $101.76 a barrel on the New York Mercantile Exchange. Brent crude for December delivery fell by $0.91 or 0.78% to settle at $115.81 a barrel on the New York Mercantile Exchange.