Crude oil futures ended lower on Thursday, magnifying their previous session’s losses, amid uncertainty about the outlook for demand and on disappointment over OPEC and their allies' decision to not increase the size of production cuts for now. Oil prices were also pressured by the release of weak U.S. data and news that Russia may lift its diesel ban in the coming days.
Benchmark crude oil futures for November delivery fell $1.91 or about 2.3 percent to settle at $82.31 a barrel on the New York Mercantile Exchange. Brent crude for December delivery dropped $1.74 or about 2 percent to settle at $84.07 a barrel on London's Intercontinental Exchange.