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Crude oil futures end slightly lower on Monday

01 Oct 2024 Evaluate

Crude oil futures ended slightly lower on Monday despite supply concerns amid escalating tensions in the Middle East, as uncertainty about the outlook for oil demand from China weighed on prices. According to private report, Israeli military carried out an air raid on target in the heart of Lebanon's capital for first time in years. It is feared that Israel's increased attacks against Hezbollah in Lebanon and Houthi in Yemen may bring the region one step closer to a much wider conflict involving Iran and the United States.

Benchmark crude oil futures for November delivery lost $0.01 or 0.01 percent to settle at $68.17 a barrel on the New York Mercantile Exchange. Brent crude for November delivery down by $0.21 or 0.29 percent to settle at $71.77 a barrel on London's Intercontinental Exchange.