COMMODITY
Crude oil futures end lower on Wednesday
Apr-18-2019

Crude oil futures ended lower on Wednesday, pressured by uncertainty surrounding global crude production, despite data from a US government report that revealed the first weekly decline in US crude stocks in a month. The Energy Information Administration (EIA) reported that US crude supplies fell by 1.4 million barrels for the week ended April 12. Analysts polled by S&P Global Platts expected a rise of 1.8 million barrels, following three consecutive weeks of increases, but the American Petroleum Institute on Tuesday had reported a larger decrease of 3.1 million barrels. The EIA data also showed inventory declines of 1.2 million barrels for gasoline and 400,000 barrels for distillates last week.

Benchmark crude oil futures for May declined 29 cents or 0.5 percent to settle at $63.76 a barrel on the New York Mercantile Exchange. June Brent crude lost 10 cents or 0.1 percent to settle at $ 71.62 a barrel on London's Intercontinental Exchange.

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