U.S. oil futures finish lower, but hold above $80 a barrel

Oil futures finished lower Thursday as concerns over production disruptions from Hurricane Ian eased, but prices held ground above $80 a barrel following a 4.7% gain in the previous session. “The overall dynamic for crude remains largely unchanged,” said Robbie Fraser, global research and analytics manager at Schneider Electric. “Recession fears continue to weigh on demand prospects looking forward, which has been reinforced by accelerated by aggressive rate increases by the U.S. Federal Reserve and other central banks.” November WTI crude fell 92 cents, or 1.1%, to settle at $81.23 barrel on the New York Mercantile Exchange.

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