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Oil prices settle lower, pressured by worries over Chinese demand; natural-gas prices rebound

oil-prices-settle-lower,-pressured-by-worries-over-chinese-demand;-natural-gas-prices-rebound

Oil futures settled lower on Monday, as lackluster import data from China and the conclusion of the Communist party’s national congress helped to dull expectations for energy demand from the world’s second largest oil consumer. U.S. benchmark West Texas Intermediate crude for December delivery CLZ22, -0.28% fell 47 cents, or nearly 0.6%, to settle at $84.58 a barrel on the New York Mercantile Exchange. Natural-gas futures, meanwhile, recouped a portion of last week’s steep losses from warmer-than-usual U.S. weather forecasts, with the November contract NGX22, +4.56% tacking on 4.8%, or 24 cents, on Monday to settle at $5.199 per million British thermal units.

Source: Marketwatch

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