Crude fails to rally as US output offsets draw

摘要

New York—Crude futures fell off intraday highs Wednesday after Energy Information Administration data showing another increase in US production overshadowed what was largest draw in US crude stocks since September 2016. Prices even spent time in negative territory, but managed to end the session up slightly. NYMEX August crude settled 45 cents higher at $45.49/b after having touched $46.48/b before the release of the EIA data.