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Crude oil futures end lower as demand worries prevail

27 Jul 2021 Evaluate

Crude oil futures suffered their first loss in five sessions on Monday as traders weighed prospects for demand amid the spread of the delta variant of the coronavirus that causes COVID-19. In coronavirus news, Russia's total virus cases surpassed 6 million and Turkey said cases in the country tripled on Sunday compared with earlier this month. The world's largest crude importer China reported 76 new COVID-19 cases on Sunday, the highest since the end of January amid a surge of local infections in the eastern city of Nanjing.

Crude oil futures for September fell $0.16 or 0.2 percent to settle $71.91 barrel on the New York Mercantile Exchange. However September Brent crude surged $0. 40 or 0.5 percent to settle at $74.50 a barrel on London's Intercontinental Exchange.