Crude oil futures ended lower on Monday with production in Libya, Norway and the Gulf of Mexico set to recover. Libya lifted force majeure at its largest oil field, producers began restoring output in the Gulf of Mexico following Hurricane Delta, and crude output in Norway looked to recover following the end of an oil-worker strike. Meanwhile, private reports said several states in America are likely to see a surge in coronavirus cases in the coming weeks. In the UK, the government has imposed fresh restrictions in several areas where the virus is reportedly spreading fast.
Crude oil futures for November declined $1.17 or 2.9 percent to settle at $39.43 a barrel on the New York Mercantile Exchange. December Brent crude fell $1.13 or 2.6 percent to settle at $41.72 a barrel on London's Intercontinental Exchange.