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Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
07 July, 2025 16:11 IST
WTI, Brent crude oil futures settle lower
Source: IRIS | 17 Aug, 2017, 08.29AM
Rating: NAN / 5 stars.
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Crude oil prices settled sharply lower in futures market on Wednesday after the Energy Information Administration report revealed a weekly climb in domestic production to the highest level in over two years.

The government data also showed the largest weekly decline in U.S. crude supplies since September of last year and they have now fallen seven weeks in a row, but those figures failed to offer any lasting price support for oil during the session.

Light sweet crude oil (WTI) futures lost 0.77 dollar or 1.62 percent to close at USD 46.78 a barrel at the New York-based commodity exchange NYMEX.

Brent crude oil futures fell 0.53 dollar or 1.04 percent to close at USD 50.27 a barrel at NYMEX. WTI-Brent spread was stable on Aug-2017.

Natural gas futures remained flat at 2.890 a gallon at the NYMEX. RBOB gasoline futures remained flat at 1.564 a gallon at the NYMEX.

In refined products, RBOB heating oil futures remained flat at 1.574 a gallon at the NYMEX.

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