Oil futures settled lower Wednesday, with U.S. prices at their lowest in six weeks following a surge in weekly domestic gasoline and distillate stockpiles. The losses came despite a weekly decline in U.S. crude supplies and the official signing of the Phase 1 U.S.-China trade deal.
February West Texas Intermediate oil lost 42 cents, or 0.7%, to settle at $57.81 barrel on the New York Mercantile Exchange. That was the lowest front-month contract settlement since Dec. 3, FactSet data show.
Source: Marketwatch