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U.S. oil futures settle at their lowest in a week

us oil futures settle at their lowest in a week

Oil futures declined on Thursday, with U.S. prices settling at their lowest in a week. “Oil fundamentals are still mostly bearish as China’s demand outlook remains a big question mark and as the inflation fighting [Federal Reserve] seems poised to weaken the U.S. economy,” said Edward Moya, senior market analyst at OANDA. October WTI crude CLV22, -3.93% fell $3.38, or 3.8%, to settle at $85.10 a barrel on the New York Mercantile Exchange, the lowest front-month contract finish since Sept. 8, FactSet data show.

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