Crude-oil futures pushed lower in volatile action during European trading hours on Monday, as another investment bank slashed its price forecasts and investors braced for another week of potential market upheaval.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in February CLG5, +2.66% traded at $48.17 a barrel in recent trade, down 63 cents, or 1.3%, in the Globex electronic session. March Brent crude LCOH5, -0.12% on London’s ICE Futures exchange fell 52 cents, or 1%, to $49.63 a barrel.
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