Oil prices settled sharply lower Wednesday, with U.S. benchmark crude losing more than 4% in February for its first monthly drop since August. A bigger-than-expected weekly climb in U.S. crude stockpiles and a fresh weekly record in domestic production contributed to oil’s losses for the session. April WTI crude fell $1.37, or 2.2%, to settle at $61.64 a barrel on the New York Mercantile Exchange, the lowest finish since Feb. 16.
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