US crude inventories hammer NYMEX, ICE futures

摘要

New York—NYMEX December crude futures settled $1.44 lower at $96.86/barrel Wednesday on a larger-than-expected build in domestic crude inventories and continued liquidation that took the front-month to a fresh 3-1/2 month low. December crude dipped to $96.16/b—the front-month contract’s lowest level since July 1. ICE December Brent settled $2.17 lower at $107.80/b. The price action took the front-month Brent/WTI spread to an intraday high of $13.39/b—the widest the spread has been since April 5.