COMMODITY
Crude oil futures end sharply lower amid rising hopes of US-Iran deal
Nov-03-2026

Crude oil futures closed sharply lower on Monday as signs of diplomatic progress between the United States and Iran eased concerns over potential supply disruptions. Meanwhile, U.S. Secretary of State Marco Rubio clarified that no decision has been made regarding further military action against Iran, adding that President Donald Trump remains inclined toward resolving the tensions through diplomatic efforts.

Benchmark crude oil futures for December delivery declined by $7.66 or 7.36% to settle at $96.46 a barrel on the New York Mercantile Exchange. Brent crude for January delivery drops by $8.66 or 7.63% to settle at $104.77 a barrel on the New York Mercantile Exchange.


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