Nymex Overview: NYMEX Overview: Petroleum Futures Losses Continue in Reaction to US-Iran Deal — OPIS Crude oil and refined futures prices were trading lower Monday morning following the announcement of a deal to end the fighting between the U.S. and Iran and reopen the Strait of Hormuz. But while prices had dropped sharply in the immediate aftermath of the announcement Sunday evening, contracts have subsequently been trading in narrow ranges and have not moved much from their initial losses.