Oil crumbles on bearish stock data, producer outlook

摘要

The oil complex settled sharply lower Thursday, as bearish weekly US Energy Information Administration data released Wednesday combined with deteriorating expectations for coordinated crude oil supply cuts to send frontmonth crude futures to three-week lows. NYMEX October light sweet crude settled $1.54 lower at $43.16/b, the lowest settle since August 10. ICE November Brent settled $1.44 lower at $45.45/gal.