Oil futures closed lower on Wednesday after a choppy day of trading, with crude closely tracking broader markets and quick shifts in sentiment. In London, Brent crude for March delivery settled 94￠ lower at $84.98 per barrel. In New York, February West Texas Intermediate (WTI) on Nymex closed down 70￠ at $79.48/bbl on thin volumes, while the more heavily traded March contract lost 65￠ to end the session at $79.80/bbl. Brent traded as high as $87.85/bbl earlier in the session, driven up by a focus on Chinese economic and oil demand growth and broader market action. But as the rally in equities ozzled out, so too did crude’s.
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