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Oil Prices Close at Lowest Level in a Month

M. Ali 4 September, 2020 12:57 am Commodities, Market Update

Oil prices declined on Thursday, due to negative outlook for demand recovery from the effects of the COVID-19 pandemic.

Brent futures for November delivery closed lower by 36 cents, or 0.8%, at $44.07 per barrel.

This is the lowest closing level for the global benchmark crude oil futures since July 31.

Meanwhile, the US West Texas Intermediate (WTI) crude futures for October delivery settled lower by 14 cents, or 0.3%, at $41.37 per barrel.

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