Oil prices finish lower as energy demand retakes the spotlight
Oil futures finished lower on Thursday, leading prices to give up much of what they gained a day earlier on the back of the halt in shipping activity through the Suez Canal, as a ship continued to block the waterway. Traders refocused attention on the rising COVID-19 cases in parts of the world that may lead to further lockdowns that hurt the economy and demand for oil. May West Texas Intermediate crude lost $2.62, or 4.3%, to end at $58.56 a barrel on the New York Mercantile Exchange, after posting a gain of 5.9% on Wednesday.
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