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Oil prices fall on mounting hopes for de-escalation in US-Iran War
Key takeaways
- Brent crude futures were down $2.08, or 2.18%, at $92.95 a barrel by 11:37 CDT (1637 GMT).
- West Texas Intermediate crude was at $89.93 a barrel, down $3.11, or 3.34%, following a 3.1% loss on Thursday.
- "The market is not seeing escalation between the parties," said Phil Flynn, senior analyst at Price Futures Group.
Oil prices fall on mounting hopes for de-escalation in US-Iran War Reuters Sat, June 6, 2026 at 12:01 AM GMT+7 2 min read CL=F HOUSTON, June 5 (Reuters) - Oil prices fell on Friday as traders gained confidence that renewed conflict between the U.S. and Iran was growing less likely.
Brent crude futures were down $2.08, or 2.18%, at $92.95 a barrel by 11:37 CDT (1637 GMT). The previous session, Brent settled 2.84% lower.
U.S. West Texas Intermediate crude was at $89.93 a barrel, down $3.11, or 3.34%, following a 3.1% loss on Thursday.
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