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26-Mar2019

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday on the back of persistent worries about an economic slowdown hurting energy demand. However, Brent crude ended higher, which found support from ongoing cuts among major crude producers as well as tensions in Venezuela. Meanwhile, tensions surrounding the Organization of the Petroleum Exporting Countries (OPEC) member Venezuela heated up Monday. US Secretary of State Mike Pompeo told Russian Foreign Minister Sergei Lavrov that the US will not stand idly by if Russia continues to send military personnel to Venezuela to support the regime of Nicolas Maduro.

Benchmark crude oil futures for May declined 22 cents or 0.4 percent to settle at $58.82 a barrel on the New York Mercantile Exchange. However, May Brent crude added 18 cents or 0.3 percent to settle at $67.21 a barrel on London's Intercontinental Exchange.


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