Oil prices dropped Wednesday, with the U.S. benchmark marking its lowest settlement in about a month. The Energy Information Administration reported a second-straight weekly increase in U.S. crude stockpiles and data from the agency showed weekly domestic crude production topped 10 million barrels a day to reach a fresh record. March West Texas Intermediate crude fell $1.60, or 2.5%, to settle at $61.79 a barrel on the New York Mercantile Exchange. That was the lowest finish since Jan. 8, 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