Oil prices fell sharply Wednesday, pulling global benchmark crude to its lowest settlement in more than 16 months and U.S. crude prices below $70 a barrel to their lowest finish since March.
U.S. petroleum inventory data from the Energy Information Administration released early Wednesday showed a third straight weekly decline for domestic crude supplies, while gasoline stockpiles moved higher. Prices, meanwhile, held onto the bulk of their losses for the session after the Federal Reserve announced an interest-rate hike…
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