Crude oil futures ended lower on Monday on concerns about the outlook for demand after weak economic data from China. Tariff hike threats from Donald Trump hurt as well. The U.S. is reportedly considering further sanctions on dark fleet tankers and Chinese banks to curb Russia's oil revenue. Meanwhile, the Federal Reserve, which is scheduled to announce its monetary policy on Wednesday. Investors were looking ahead to the updated policy statement and Fed Chair Jerome Powell's press conference for clues on future interest rates under the Trump administration.
Benchmark crude oil futures for January delivery fell $0.58 or about 0.81 percent to settle at $70.71 a barrel on the New York Mercantile Exchange. Brent crude for February delivery fell $0.58 or 0.8 percent to settle at $73.91 a barrel on London's Intercontinental Exchange.
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