COMMODITY
Crude oil futures end higher amid weak global demand outlook
Oct-16-2026

Crude oil futures ended higher on Thursday as traders weighed a weaker global demand outlook and signs of recovering Middle East crude supplies against persistent shipping risks around the Strait of Hormuz. On the inventory front, Energy Information Administration (EIA) said that US crude inventories fell by 8.557 million barrels in the week ended October 9, the most since February and well above market expectations for a 0.3 million-barrel draw. 

Benchmark crude oil futures for November delivery increased by $2.88 or 3.03% to settle at $97.97 a barrel on the New York Mercantile Exchange. Brent crude for December delivery was down by $0.14 or 0.13% to settle at $105.92 a barrel on the New York Mercantile Exchange.  


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