HOUSTON: Brent futures for June delivery settled down more than US$3 on Tuesday following unconfirmed media reports that Iran's president said the country was ready to end the war, assuming some guarantees were put into place. Traded volumes for May futures were 18,652 lots, some 30 times lower than June. Brent crude futures for May settled up US$5.57, or 4.94%, at US$118.35 per barrel, while US crude futures settled down US$1.50 or 1.46% at US$101.38. Front-month Brent futures hit a record monthly gain of 64% in March, according to LSEG data dating back to June 1988. Trading on Tuesday was volatile, with front-month Brent futures swinging in a range of up 5.7% to down 1.3% from Monday's close.

Source: The Star April 01, 2026 11:30 UTC