Oil Prices End Lower With Weekly U.S. Crude Supplies Up by Over 5 Million Barrels
Oil futures settled lower Wednesday as official U.S. data showed an unexpected weekly climb in domestic crude inventories, prompting prices to post their first loss in three sessions.
Price moves
West Texas Intermediate crude CL00 for December delivery fell 97 cents, or nearly 1.4%, to settle at $70.77 a barrel on the New York Mercantile Exchange.
December Brent crude BRN00 BRNZ24, the global benchmark, lost $1.08, or 1.4%, at $74.96 a barrel on ICE Futures Europe.
November gasoline RBX24 lost nearly 1.5% to $2.04 a gallon, while November heating oil HOX24 edged down by 0.7% to $2.22 a gallon.
Natural gas for November delivery NGX24 settled at $2.34 per million British thermal units, up 1.3%.
Losses for oil prices deepened after the Energy Information Administration reported an unexpected rise in U.S. commercial crude inventories, which climbed by 5.5 million barrels for the week ending Oct. 18.
Source : Marketwatch
