Oil futures settled lower Oct. 26 as demand outlooks came under pressure amid a surge in COVID-19 cases in the US and Europe. NYMEX December WTI settled $1.29 lower at $38.56/b, and ICE December Brent was down $1.31 at $40.46/b. Front-month WTI last settled lower Oct. 2. Oil demand outlooks have dimmed as a return to broader social lockdowns appear more likely amid steadily rising coronavirus infections. In the US, the seven-day moving average of new infections climbed to 68,954 on Oct. 25, an all-time high, according to data from The COVID Tracking Project. In Europe, Italy has encouraged people to avoid travel before Nov. 24, Spain has approved […]