Oil futures settled lower on Thursday, with U.S. prices down a second session. “With the supply side remaining supportive of higher prices, oil just needs to consolidate for a month for India and Japan to get a better handle on COVID,” said Edward Moya, senior market analyst at Oanda. U.S. benchmark prices could rally 10% to 15% “once India’s COVID crisis improves,” he said. June West Texas Intermediate crude lost 92 cents, or 1.4%, to settle at $64.71 a barrel on the New York Mercantile Exchange.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Oil futures settle lower on risks to demand
Latest posts by Market Watch (see all)