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Crude oil futures end lower on Thursday

09 Dec 2022 Evaluate

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.