COMMODITY
Crude oil futures settle lower amid weak demand concerns
Aug-30-2025

Crude oil futures settled lower on Friday amid concerns about weaker demand in the US due to the summer travel season ending in a couple of days along with intensifying Russia-Ukraine conflict. Besides, in order to gain larger market share, the OPEC+ nations recently agreed to increase crude production by 547,000 barrels per day in September.

Benchmark crude oil futures for October declined $0.59 or 0.91% at $64.01 a barrel on the New York Mercantile Exchange. Brent crude for November delivery decreased $0.53 or 0.78% to settle at $67.45 a barrel on London's Intercontinental Exchange.

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