Oil futures finish lower for the session, with U.S. prices down roughly 11% for the month
Oil futures declined Friday, building on their loss for the month, with U.S. prices down roughly 11% from the end of September. The "oil price crash this month was due to demand concerns, led by expected restrictions in Europe," Manish Raj, chief financial officer at Velandera Energy, told MarketWatch. "The market is factoring in not only the short-term restrictions in Europe, but additional concern that the oil demand will stay lower for longer." December West Texas Intermediate crude fell 38 cents, or nearly 1.1%, to settle at $35.79 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since June 1, according to Dow Jones Market Data.
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