WTI Futures Close Below $40 pb

Crude oil prices declined on Thursday with the market seeing increased concerns regarding the recovery of global demand for oil, amid record surged in the number of COVID-19 cases in the United States.

The US benchmark crude, West Texas Intermediate (WTI), futures closed down by 3.1% or $1.28 at $39.62 per barrel (pb).

Brent crude futures settled lower by 2.2% or 94 cents at $42.35 a barrel.