Crude oil futures settled notably lower on Monday amid signs that nuclear talks between the U.S. and Iran are moving in a positive way, and there could be a removal of U.S. sanctions on Iranian oil sales.
West Texas Intermediate Crude oil futures for March ended lower by $0.99 or about 1.1% at $91.32 a barrel.
Brent crude futures drifted down $0.58 or about 0.6% to $92.69 a barrel.
Worries about crude supply have faded a bit following the Biden Administration restoring sanctions waivers to Iran to allow international nuclear cooperation projects.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.