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Crude oil futures end lower on Monday amid a bit of uncertainty about outlook for energy demand due to continued rise in coronavirus cases. Further, still, the likelihood of a drop in crude imports by China due to the fairly huge stockpiles in the country prevented traders from creating any significant long positions in the contract. However, investors were also weighing the likely impact of OPEC-led production cuts on crude prices, and this presumably helped limit oil’s downside. Data showing continued expansion in China's manufacturing activity, and a surge in Japanese industrial production helped as well.

Crude oil futures for October declined 36 cents or 0.8 percent to settle at $42.61 a barrel on the New York Mercantile Exchange. November Brent crude dropped 53 cents or 1.2 percent to settle at $45.28 a barrel on London's Intercontinental Exchange.

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About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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