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Oil futures end down for the session, but post a more than 90% gain for the quarter


Wednesday, 1 July 2020 02:49 WIB

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Oil futures settled with a loss on Tuesday, down nearly 36% in the first half of the year, according to FactSet data, as the spread of COVID-19 continued to feed expectations for weaker energy demand. U.S. benchmark prices, however, ended the second quarter up by almost 92%, rebounding from a record dip to a negative settlement in April as a group of major oil producers moved to reduce oil production and amid signs of some recovery in demand for oil.

August West Texas Intermediate oil CLQ20, -0.78% fell 43 cents, or 1.1%, to settle at $39.27 a barrel on the New York Mercantile Exchange.

Source: Marketwatch


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