Oil prices end lower as U.S. supplies rise for a third week
Oil futures settled lower on Wednesday, as a third straight weekly rise in U.S. crude supplies and worries about global demand outweighed support from a "meaningful escalation" this week in tensions between Russia and Ukraine.
Natural-gas prices, meanwhile, climbed by more than 6% to settle at their highest since January, buoyed by prospects for higher demand.
West Texas Intermediate crude for December delivery fell by 52 cents, or nearly 0.8%, to settle at $68.87 a barrel on the New York Mercantile Exchange on the contract's expiration day. January WTI oil, which is now the front month, lost 49 cents, or 0.7%, at $68.75.
January Brent crude, the global benchmark, declined by 50 cents, or 0.7%, to $72.81 a barrel on ICE Futures Europe.
December gasoline added 0.4% to $2.05 a gallon, while December heating oil fell 0.6% to $2.23 a gallon.
Natural gas for December delivery rose by 6.5% to $3.19 per million British thermal units, the highest front-month contract finish since Jan. 12, according to Dow Jones Market Data.
Source : MarketWatch
