Crude oil prices settled sharply lower in futures market on Wednesday, as growing US production and reduced Chinese refinery activity fed mounting concern over the stubborn global crude glut.
Light sweet crude oil (WTI) futures plunged 0.98 dollar or 2.25 percent to close at USD 42.53 a barrel at the New York-based commodity exchange NYMEX.
Brent crude oil futures plunged 1.20 dollar or 2.61 percent to close at USD 44.82 a barrel at NYMEX. WTI-Brent spread was stable on Jun-2017.
Natural gas futures remained flat at 2.915 a gallon at the NYMEX. RBOB gasoline futures remained flat at 1.404 a gallon at the NYMEX.
In refined products, RBOB heating oil futures remained flat at 1.372 a gallon at the NYMEX.