The oil complex settled down 23 May after a bearish US EIA report, escalating euro zone concerns and decreased tension between the West and Iran as talks on Tehran’s nuclear program progressed, reports Platts. NYMEX July crude oil futures settled down $1.95 to $89.90/B, dropping below $90/B for the first time since 1 November, 2011. Meanwhile, ICE Brent – which at one point was down $3.02- settled $2.85 lower at $105.56/B.