Crude oil futures ended deeply in red on Tuesday with Both WTI and Brent futures settling at their lowest front-month prices since September 15. Investors worried about rising cases of COVID-19 throughout the globe, a development that may harm appetite for oil and other energy assets in the longer-term. The global death toll from the coronavirus pandemic has surpassed one million globally, while the US accounts for more than a fifth of the nearly 33.4 million cases, with more than 200,000 deaths.
Crude oil futures for November fell $1.31 or 3.2 percent to settle at $39.29 a barrel on the New York Mercantile Exchange. November Brent crude dropped $1.40 or 3.3 percent to settle at $41.03a barrel on London's Intercontinental Exchange.