Oil futures settle lower after IEA cuts 2020 demand forecast
Oil futures settled lower on Thursday after the International Energy Agency lowered its forecast for oil demand this year. News of a diplomatic agreement between the United Arab Emirates and Israel also pressured prices as it eased the risk to supplies from the region, analysts said. September West Texas Intermediate oil fell by 43 cents, or 1%, to settle at $42.24 a barrel on the New York Mercantile Exchange.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.