COMMODITY
Crude oil futures end lower on Wednesday
Sep-19-2024

Crude oil futures ended lower on Wednesday despite data showing a drop in crude inventories in the U.S. in the week ended September 13th. Data from the Energy Information Administration (EIA) showed crude oil inventories decreased by 1.6 million barrels last week after rising by 0.8 million barrels in the previous week. Street had expected crude oil inventories to edge down by 0.1 million barrels. Meanwhile, the report said gasoline inventories crept up by 0.1 million barrels last week and are only slightly below the five-year average for this time of year.

Benchmark crude oil futures for October delivery fell $0.28 or 0.39 percent to settle at $70.91 a barrel on the New York Mercantile Exchange. Brent crude for November delivery lost $0.05 or 0.06 percent to settle at $73.65 a barrel on London's Intercontinental Exchange.


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