Oil prices retreated Wednesday, finishing the session lower, a day after touching levels not seen in more than 2 years. West Texas Intermediate crude oil for February delivery closed off 33 cents, or 0.6%, at $59.64 a barrel. On Tuesday, the benchmark finished at its highest level since June of 2015 on concerns over supply disruptions in the Middle East. Market participants attributed Wednesday’s slide, in low-volume trade, on some investors cashing out of futures contracts after the previous day’s rise to multiyear highs. Also, reports indicated that a Tuesday pipeline blast in Libya could be repaired as soon as next week. Looking ahead, investors will be waiting for inventory data from the American Petroleum Institute due later Wednesday.
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