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05-Feb2019

Crude oil futures end lower on Monday

Crude oil futures ended lower on Monday after briefly touching their highest intraday levels of the year, with prices giving up some of the gains they scored last week as concerns over a potential slowdown in energy demand resurfaced. Demand concerns were reignited following the release of surprisingly weak Chinese and US economic data, and as a result, futures gave back all of last week's gains. Surprisingly soft Chinese General Services PMI for January released overnight, which showed the Composite level dip to 50.9 from 52.2 in December.

Benchmark crude oil futures for March declined 70 cents or 1.3 percent to settle $54.56 a barrel on the New York Mercantile Exchange. April Brent crude fell 24 cents or 0.4 percent to settle at $62.51 a barrel on London's Intercontinental Exchange.


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