WTI, Brent Crude Settle Near $40 a Barrel on Wednesday

Crude oil futures finished lower on Wednesday as investors weary over an uptick in global coronavirus infections which may lead to further disruption within a fragile economic environment.

West Texas Intermediate crude spiked before settling at $39.00 a barrel on the New York Mercantile Exchange. Brent crude futures rose to $41.00 per barrel earlier in the day but finished at $40.70 a barrel on ICE Futures Europe.

With Wednesday evening’s landfall of Hurricane Zeta, oil analysts anticipate a rally later in the week.

 

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