Crude oil futures settled sharply lower on Friday, on worries about the outlook for energy demand amid reports of sharp spikes in coronavirus cases in several countries and fresh lockdown restrictions. US President Donald Trump revealing that he and First Lady Melania Trump tested positive for the coronavirus further hurt oil prices. Rising supply levels and data showing a slower than expected growth in US employment also weighted down on prices. The Labor Department said non-farm payroll employment rose by 661,000 jobs in September after spiking by an upwardly revised 1.489 million jobs in August. Meanwhile, a report from Baker Hughes said the number of active US rigs drilling for oil rose by 6 to 189 this week after seeing an increase of 4 rigs in the previous week.
Crude oil futures for November fell $1.67 or 4.3 percent to settle at $37.05 a barrel on the New York Mercantile Exchange. December Brent crude declined $1.12 or 2.7 percent to settle at $39.81 a barrel on London's Intercontinental Exchange.