Crude futures settled at three-week highs Thursday as the market eyed rising tensions between Tehran and Washington following the downing of a US surveillance drone over the Strait of Hormuz. NYMEX July WTI settled $2.89 higher at $56.65/b and ICE August Brent was up $2.63 at $64.45/b. Crude prices moved higher overnight after an Iranian surface-to-air missile brought down a US drone flying above the Strait of Hormuz. But oil futures stabilized at higher levels Thursday afternoon following a steep run-up during morning trading as US President Donald Trump equivocated on a potential US response to the incident. “Iran made a very big mistake,” Trump said after a meeting with his top national security advisers. “We didn’t have a man or woman in the drone. It would have made a big, big difference.” […]