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Crude oil futures end lower on Friday

14 Oct 2024 Evaluate

Crude oil futures ended lower on Friday as investors weighed the threat of a wider Middle East conflict that could threaten crude flows from the region. The Israeli military has killed 22 people in Beirut and wounded 117 in a series of airstrikes launched on Thursday. Meanwhile, Florida is recovering from Hurricane Milton, which left at least 16 people dead and caused widespread damage, including power outages and flooding.

Benchmark crude oil futures for November delivery fell $0.29 or about 0.4 percent to settle at $75.56 a barrel on the New York Mercantile Exchange. Brent crude for December delivery dropped by $0.36 or about 0.5 percent to settle at $79.04 a barrel on London's Intercontinental Exchange.