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Crude oil futures end lower on worries about outlook for energy demand

27 Aug 2021 Evaluate

Crude oil futures ended lower on Thursday on worries about outlook for energy demand due to a surge in coronavirus cases in several countries. Besides, the return of output in Mexico also weighed on oil prices. Pemex said it has restored nearly 20% of the more than 400,000 bpd in oil production it lost due to a fire that erupted on an offshore platform on Sunday.

Crude oil futures for October fell $0.94 or 1.4 percent to settle $67.42 barrel on the New York Mercantile Exchange. October Brent crude dropped $1.03 or 1.45 percent to settle at $70.25 a barrel on London's Intercontinental Exchange.