Crude oil futures ended lower on Thursday amid worries about outlook for energy demand due to surge in coronavirus cases in India. India posted record daily COVID-19 infections and deaths, with the virus spreading from cities to villages across the world’s second-most populous nation, dashing hopes that the country’s deadly second wave was about to peak. The record numbers of new infections in India have been making the headlines and fueling fears that demand may recover more slowly.
Crude oil futures for June dropped $0.92 or 1.4 percent to settle at $64.71 barrel on the New York Mercantile Exchange. July Brent crude fell $0.43 or 0.6 percent to settle at $68.54 a barrel on London's Intercontinental Exchange.