Crude-oil futures declined Wednesday after a report late in the prior session illustrated an unexpected and sharp rise in U.S. crude inventories last week.
Benchmark crude for September delivery fell 76 cents to $75.01 a barrel in electronic trade on the New York Mercantile Exchange. The contract had rebounded Tuesday from a six-session losing streak, adding 53 cents to end at $75.77 a barrel, MarketWatch says.
Oil last finished a trading day on the Nymex below $75 on July 12. Closing prices last week slid below $80 after trading above that level for more than a week.
The Department of Energy will release its weekly report in inventories of crude, gasoline and distillates, which include diesel, on Wednesday in Washington, Transport Topics informs.
Vladimir Putin's aircraft landed on Hmeymim airbase of the Russian Air Force in Syria in the morning of December 11