Crude oil futures ended lower on Thursday amid concerns about the outlook for oil demand from China. The latest data from China showed crude oil imports fell 2.412 million barrels per day month-on-month to a sixth-month low of 10.429 million barrels. Meanwhile, data showing consumer price inflation in the U.S. accelerated less than expected in the month of July raised hopes the Federal Reserve will likely hold interest rates unchanged at its September meeting.
Benchmark crude oil futures for September delivery fell $1.58 or about 1.87 percent to settle at $82.82 a barrel on the New York Mercantile Exchange. Brent crude for October delivery dropped $1.15 or 1.3 percent to settle at $86.40 a barrel on London's Intercontinental Exchange.