Oil settles lower as US crude build weakens supply-demand fundamentals

摘要

New York-Oil price declines extended for a third straight session Wednesday after a surprise US crude build exacerbated increasingly dim supply-and-demand outlooks. NYMEX September WTI settled at $51.09/b, down $2.54, and ICE October Brent fell $2.71 to $56.23/b. US commercial crude inventories grew 2.39 million barrels to 438.93 million barrels during the week ended August 2, according to EIA data. The build ran counter to analysts’ expectations of a 3.8 million barrel draw in an S&P Global Platts Monday analysis.