Oil prices dropped Wednesday to finish at their lowest level in about a month after the Energy Information Administration reported a surprise increase in last week’s U.S. crude supplies, along with sizable gains in stockpiles of gasoline and distillates. The settlement for futures prices had been delayed. “We experienced a technical issue that delayed dissemination of Nymex WTI and heating oil settlement prices,” a CME Group spokesman told MarketWatch. July WTI crude lost $2.47, or 5.1%, to settle at $45.72 a barrel on the New York Mercantile Exchange. That was the lowest settlement since May 4, according to FactSet data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News