Oil Closes at Lowest Level in Five Months

Oil prices finished Thursday lower, at its lowest closing level in about five months, amid concerns about the rising number of Coronavirus cases and the recovery of the global economy and demand for energy.

Brent crude futures for December delivery declined by $1.47, or 3.8%, to settle at $37.65 per barrel, its lowest closing level since May 29.

Meanwhile, the West Texas Intermediate (WTI) futures for December delivery plunged by $1.22, or 3.3%, to close at $36.17 per barrel, its lowest closing level since the beginning of June.