Brent crude for May, which expired on Wednesday, settled at US$63.54 a barrel, down 60 cents, or 0.9%. The more active contract for June ended $1.43, or 2.2%, lower at $62.74. U.S. West Texas Intermediate (WTI) crude futures closed at $59.16 a barrel, losing $1.39, or 2.3%. Brent was down 3.9% for the month and up 22.6% for the three months ended March 31. WTI fell 3.8% in March and rose 21.9% for the quarter.
NEW YORK:Oil prices fell about 2% on Wednesday as fresh lockdowns in Europe stoked fuel consumption fears and a pessimistic demand outlook from OPEC and its allies ahead of their meeting to decide on production curbs.
Brent crude for May, which expired on Wednesday, settled at US$63.54 a barrel, down 60 cents, or 0.9%. The more active contract for June ended $1.43, or 2.2%, lower at $62.74.
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