Crude oil prices closed lower in futures market on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June.
Light sweet crude oil (WTI) futures declined 0.20 dollar or 0.41 percent to close at USD 48.04 a barrel at the New York-based commodity exchange NYMEX.
Brent crude oil futures declined 0.32 dollar or 0.63 percent to close at USD 50.64 a barrel at NYMEX. WTI-Brent spread was stable on Mar-2017.
Natural gas futures remained flat at 3.073 a gallon at the NYMEX. RBOB gasoline futures remained flat at 1.613 a gallon at the NYMEX.
In refined products, RBOB heating oil futures remained flat at 1.504 a gallon at the NYMEX.