Oil futures dropped under $45 a barrel on Thursday to settle at a six-week low. Last week’s record climb in U.S. crude inventories and ongoing uncertainty surrounding the Organization of the Petroleum Exporting Countries’ plan to curb output kept pressure on prices, which marked a fifth-consecutive session decline. December WTI crude fell 68 cents, or 1.5%, to settle at $44.66 a barrel on the New York Mercantile Exchange. That marked the lowest settlement since Sept. 23, according to FactSet data.
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