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Crude oil futures end lower on Monday

07 Jan 2025 Evaluate

Crude oil futures ended lower and snapped five-day winning streak on Monday on stronger dollar. However, the downside remained capped after top oil exporter Saudi Arabia raised prices for Asian buyers for the first time in three months. Further, additional economic stimulus from China is expected to underpin fuel demand in the world's largest crude importer. There were reports that the People's Bank of China will issue the largest-ever offshore yuan bonds in Hong Kong this month.

Benchmark crude oil futures for February fell $0.46 or about 0.5 percent to settle at $73.50 a barrel on the New York Mercantile Exchange. Brent crude for March delivery declined $0.21 or about 0.27 percent to settle at $76.3 a barrel on London's Intercontinental Exchange.


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