Oil futures settled at a nearly two-week low Monday, as investors failed to shake worries that growing signs of economic weakness will eventually hurt demand for crude oil.
West Texas Intermediate crude for November delivery fell 47 cents, or 0.9%, to end at $53.31 a barrel on the New York Mercantile Exchange, after the U.S. benchmark contract posted a 1.7% weekly decline. The November contract, expires at Tuesday’s settlement.
Global benchmark Brent crude for December lost 46 cents, or 0.8%, to finish at $58.96 a barrel on the ICE Futures Europe exchange, following a weekly skid of 1.8%.
Source : Marketwatch