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Oil futures finished lower on Monday, with U.S. and global benchmark prices at their lowest in almost two weeks.
Crude prices face headwinds from "familiar factors, with analysts remaining skeptical that Chinese stimulus measures will be sufficient for boosting lackluster crude demand," said Robbie Fraser, associate director of global research and analytics at Schneider Electric.
West Texas Intermediate crude for December delivery fell $2.34, or 3.3%, to settle at $68.04 a barrel on the New York Mercantile Exchange. January Brent crude, the global benchmark, dropped $2.04, or 2.8%, to $71.83 a barrel on ICE Futures Europe. According to Dow Jones Market Data, Brent and WTI marked their lowest settlements since Oct. 29.
Stocks ended higher Monday, with the Dow, S&P 500 and Nasdaq Composite building on last week's record run.
The Dow closed above 44,000 for the first time, while the S&P 500 ended just above the 6,000 milestone after temporarily trading above that threshold in Friday's session. The U.S. bond market was closed Monday for the Veterans Day holiday.
The Dow ended 304.14 points higher, up 0.7%, at 44,293.13
The S&P 500 rose 5.81 points, or 0.1%, to 6,001.35.
The Nasdaq Composite finished at 19,298.76, up 11.99 points, or 0.1%
Veterans Day is a federal holiday in the United States that honors all military veterans. Originally called Armistice Day, it was established to commemorate the end of World War I. Today, it is a day marked by parades, public events, and the closure of many businesses and government offices.
The stock market, including the New York Stock Exchange and Nasdaq, will remain open on Veterans Day, but the bond markets will be closed. The U.S. Postal Service will not deliver mail, and most banks will also be closed. Additionally, since it is a federal holiday, all non-essential government offices will be closed, and it is a state holiday in nearly every state except Wisconsin.
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