U.S. oil prices settle lower as crude supplies log first weekly slump in 3 weeks
Thursday, 22 August 2019 02:51 WIB | ENERGY |Minyak WTI

U.S. oil futures settled lower Wednesday after the government reported a weekly decrease in domestic crude supplies, the first in three weeks, but smaller than the market expected.

Concerns over energy demand also continued to pressure prices.

West Texas Intermediate crude for October delivery fell by 45 cents, or 0.8%, to settle at $55.68 a barrel on the New York Mercantile Exchange, following gains in each of the last three trading sessions. It was at $56.77 shortly before the supply data.

The October contract for global benchmark Brent crude, however, rose 27 cents, or 0.5%, to $60.30 a barrel on ICE Futures Europe. On Tuesday, Brent finished above $60 for the first time in a week.

On Nymex, September gasoline rose 1.3 cents, or 0.8%, to $1.6938 a gallon, while September heating oil added nearly half a cent, or 0.2%, to $1.8573 a gallon.

Source: Marketwatch

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