COMMODITY
Crude oil futures end marginally lower on Monday
Jul-07-2020

Crude oil futures ended marginally lower on Monday, after swinging between gains and losses, as traders weighed energy demand prospects and fears of another lockdown amid a surge in new coronavirus cases across the globe. The World Health Organization said Saturday that more than 200,000 coronavirus cases were confirmed worldwide over a 24-hour period, with the US accounting for around 130,000 new cases. Several states in the US reported record spikes in new daily cases over the weekend. However, Brent crude prices gained on hopes of China’s perceived recovery from the pandemic.

Crude oil futures for August lost 2 cents or 0.05 percent to settle at $40.63 a barrel on the New York Mercantile Exchange. However, September Brent crude rose 30 cents or 0.7 percent to settle at $43.10 a barrel on London's Intercontinental Exchange.

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