Oil futures settled lower on Wednesday after official U.S. data revealed across-the-board weekly increases in petroleum supplies, with an “adjustment” to the data contributing to a nearly 8 million-barrel rise in crude stockpiles.
Prices for oil extended their decline to settle near the session’s lows after the Federal Reserve announced a decision to hold its benchmark interest rate steady, but indicated that its not done with its rate-hiking cycle.
Price action
Supply data
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