Crude oil futures end lower on Thursday after moving sharply higher in early trading. With the downturn on the day, the price of crude oil extended a recent sell-off, falling to its lowest levels in eleven months. Sentiments remained weak as traders remained concerns about the outlook for energy demand amid the possibility of a global recession.
Benchmark crude oil futures for January delivery fell $0.55 or 0.8 percent at $71.46 a barrel on the New York Mercantile Exchange. Brent crude for February delivery dropped $0.96 or 1.25 percent to settle at $76.15 a barrel on London's Intercontinental Exchange.