COMMODITY
Crude oil futures end lower on Friday
Sep-14-2024

Crude oil futures ended lower on Friday on reports that crude oil production resumed in several facilities along the U.S. Gulf of Mexico. Further, concerns about the outlook for oil demand from China weighed as well on oil prices. Meanwhile, the International Energy Agency (IEA) lowered its oil demand growth forecast for the year and warned the oil market could face a surplus next year even if the OPEC+ alliance keeps its voluntary oil output cuts in place

Benchmark crude oil futures for October delivery fell $0.32 or 0.46 percent to settle at $68.65 a barrel on the New York Mercantile Exchange. Brent crude for November delivery lost $0.36 or 0.50 percent to settle at $71.61 a barrel on London's Intercontinental Exchange.


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