COMMODITY
Crude oil futures close lower on Middle East diplomacy hopes
Oct-28-2026

Crude oil futures closed lower on Tuesday as renewed diplomatic efforts raised hopes of  de-escalating tensions in the Middle East. Iran’s Supreme Leader Mojtaba Khamenei called for an end to the current state of 'neither war nor peace', signaling a possible opening for negotiations. 

Benchmark crude oil futures for December delivery decreased by $1.86 or 1.83% to settle at $99.9 a barrel on the New York Mercantile Exchange. Brent crude for December delivery fell by $1.93 or 1.67% to settle at $113.88 a barrel on the New York Mercantile Exchange. 


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