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Crude oil futures end marginally lower on Monday

12 Mar 2024 Evaluate

Crude oil futures ended marginally lower on Monday on concerns about the outlook for demand from China and on caution ahead key U.S. consumer price inflation data. Investors were awaiting U.S. inflation data and reports from OPEC and the International Energy Agency (IEA) this week for more clues on the demand outlook. OPEC and the IEA are scheduled to release their monthly oil market reports on Tuesday and Thursday, respectively.

Benchmark crude oil futures for April delivery fell $0.08 or about 0.1% to settle at $77.93 a barrel on the New York Mercantile Exchange. However, Brent crude for May delivery was up by $0. 13 or about 0.2% to $81.21 per barrel on London's Intercontinental Exchange.


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