Crude oil futures ended lower on Monday amid continues worries about outlook for energy demand due to rising coronavirus cases in India. India reported a record number of Covid-19 cases for the fifth straight day on Monday and the official death toll also jumped, plunging the country into a humanitarian crisis. Meanwhile, in Japan, a third state of emergency for Tokyo and three western prefectures began on Sunday, affecting nearly a quarter of the population. However, the downside was limited on reports the Organization of the Petroleum Exporting Countries (OPEC) and its allies are likely to delay their plans to any significantly increase crude output for now.
Crude oil futures for June fell $0.23 or 0.4 percent to settle at $61.91 barrel on the New York Mercantile Exchange. June Brent crude declined $0.46 or 0.7 percent to settle at $ 65.65 a barrel on London's Intercontinental Exchange.