Crude oil futures ended lower on Friday following the strong upward move seen in the previous session. The choppy trading on the day came as traders remained optimistic about the outlook for energy demand but seemed reluctant to continue pushing oil prices higher. A jump by US treasury yields may have kept buying interest somewhat subdued, with the yield on the benchmark ten-year note surging back above 1.6 percent to its highest levels in over a year. The increase in yields came after President Joe Biden directed states to make all adults eligible for a coronavirus vaccine by May 1st.
Crude oil futures for April slipped $0.41 or about 0.62 percent to settle at $65.61 barrel on the New York Mercantile Exchange. May Brent crude fell $0.24 or 0.35 percent to settle at $69.22 a barrel on London's Intercontinental Exchange.