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17-Apr2018

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday amid fading worries of potential retaliation from Russia following weekend airstrikes on the country's ally Syria. A barrage of U.S., French and British missiles launched on Saturday destroyed much of Syria's chemical-weapons capabilities, but left President Bashar al-Assad's conventional military intact. Meanwhile, Crude-oil production from the shale sector is expected to rise by 125,000 barrels a day in May to 6.996 million barrels a day, according to a report from the Energy Information Administration (EIA). That's due in large part to the continued U.S. shale boom in the Permian basin.

Benchmark crude oil futures for May delivery fell $1.17 or 1.7 percent to settle at $66.22 a barrel on the New York Mercantile Exchange. June Brent crude declined 1.16% or 1.6% percent to settle at $71.42 a barrel on London's Intercontinental Exchange.


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