Comex Market Update : Epic Research Malaysia

Crude-oil futures ticked lower Monday, ending a brief relief rally that emerged late last week. Traders remained unsure whether prices for the commodity have hit bottom and oversupply concerns continued.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX4, +0.36%  declined 4 cents, or less than 0.1%, to settle at $82.71 a barrel.

December Brent crude LCOZ4, +0.14%  on London’s ICE Futures exchange declined 76 cents, or 0.9%, to finish at $85.40 a barrel, also putting a stop on two straight days of gains.

The U.S. oil benchmark lost 3.6% last week and has been down for three consecutive weeks, while Brent crude in London has fallen for four weeks in a row, losing 4.9% last week.

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