Crude oil futures ended deeply in red on Thursday after the latest batch of data from the U.S., Europe and Asia raised worries about an economic slowdown. Data showing U.S. jobless claims rose to a three-month high last week, a report saying U.S. retail sales fell for the first time in seven months in October, and a report from the Federal Reserve showing industrial production fell by more than expected in October, have raised concerns about the outlook for energy demand. Meanwhile, data from China's National Bureau of Statistics showed crude refining throughput in the country dropped 2.8% in October, indicating slowing demand.
Benchmark crude oil futures for December delivery fell $3.76 or 4.9 percent to settle at $72.90 a barrel on the New York Mercantile Exchange. Brent crude for January delivery dropped $3.76 or 4.6 percent to settle at $77.42 a barrel on London's Intercontinental Exchange.