Crude oil futures end lower on Friday
President Donald Trump is facing a 60-day War Powers deadline related to military action involving Iran
Crude oil futures settled lower on Friday, amid easing supply fears driven by optimism that geopolitical tensions may ease and the Strait of Hormuz may re-open. A private report indicated that Iran had submitted a fresh proposal for negotiations with the United States through Pakistani mediators. Meanwhile, President Donald Trump is facing a 60-day War Powers deadline related to military action involving Iran.
Benchmark crude oil futures for June delivery declined by $3.13 or 2.98% to settle at $101.94 a barrel on the New York Mercantile Exchange. Brent crude for July delivery down by $2.23 or 2.02% to settle at $108.17 a barrel on the New York Mercantile Exchange.
