Crude fails to rally on bullish EiA data

摘要

New York-Crude futures turned lower Wednesday as persistent concerns about an overhang of supply dragged prices lower, despite data showing a weekly drawdown in petroleum stocks last week. NYMEX November crude settled 43 cents lower at $90.73/b, but only after running up as high as $93.96/b in the wake of US Energy Information Administration data. ICE November Brent closed down 51 cents at $94.16/b.