Oil futures end higher, even as demand concerns grow

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Oil futures ended higher on Monday on the heels of last week’s loss, finding some support as a possible oil workers’ strike in Norway may lead to lower production, analysts said. Oil firms in Norway plan to close down 22% of the nation’s oil and gas output if workers go on strike on Wednesday, Reuters reported Friday. Price gains for oil, however, were modest as traders continued to fret over the rise in global cases of COVID-19 and outlook for energy demand. November West Texas Intermediate crude rose 35 cents, or 0.9%, to settle at $40.60 a barrel on the New York Mercantile Exchange.
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