Crude oil futures settle lower on Monday
OPEC+ are reportedly preparing for a fourth bumper oil supply hike of 411,000 bpd beginning in August
Crude oil futures ended lower on Monday amid easing Middle Eastern tensions as well as concerns of excess supply as OPEC+ plans to scale up production. OPEC+ are reportedly preparing for a fourth bumper oil supply hike of 411,000 bpd beginning in August.
Benchmark crude oil futures for August declined $0.41 or about 0.6% at $65.11 a barrel on the New York Mercantile Exchange. Brent crude for August fell $0.16 or about 0.24% at $67.61 a barrel on London's Intercontinental Exchange.
