Crude oil futures ended lower on Thursday as the continued rise in coronavirus cases across the US and several European countries raised concerns about energy demand. Further, Oil prices were also hurt by data showing an increase in U.S. crude inventories in the week ended November 6. According to the data from Energy Information Administration (EIA), crude stockpiles rose by 4.3 million barrels last week compared to expectations for a draw of 913,000 barrels.
Crude oil futures for December fell 33 cents or 0.8 percent to settle at $41.12 a barrel on the New York Mercantile Exchange. However, January Brent crude rose 25 cents or 0.6% to settle at $44.05 a barrel on London's Intercontinental Exchange.