Crude oil futures ended marginally lower on Tuesday, weighed down by a forecast by the International Energy Agency (IEA) that global crude output will rise and help ease tight supplies. Further, oil prices were also weighed down by concerns about the outlook for energy demand following a surge in coronavirus cases and fresh restrictions of movements in several countries in Europe. The US Centers for Disease Control and Prevention moved four European destinations to its highest-risk category for travel - a reflection of the growing concern over rising cases in Europe.
Benchmark crude oil futures for December delivery fell 12 cents or 0.2 percent to settle at $80.76 a barrel on the New York Mercantile Exchange. However, Brent crude for January delivery gained 38 cents or 0.5 percent to settle at $82.43 a barrel on London's Intercontinental Exchange.