Oil futures ended lower on Thursday, weighed down by expectations for surplus supplies, with the economy and energy demand moving back into focus on the first day of the Jackson Hole economic policy symposium in Wyoming.

West Texas Intermediate crude for October delivery on the New York Mercantile Exchange fell 33 cents, or 0.6%, to settle at $55.35 a barrel. Prices, based on the front-month contract, trade about 1% higher than the week-ago finish, but down 5.5% for the month so far. October Brent crude shed 38 cents, or 0.6%, to $59.92 a barrel on ICE Futures Europe—logging its first decline in five sessions.

Source : Marketwatch