Oil Finishes The Quarter With a 24% Loss

Oil futures settled lower on Wednesday, tallying a quarterly loss of 24%. Concerns over a glut of crude supplies continue to plague the market, with the latest U.S. Energy Information Administration report showing a weekly increase in stockpiles, along with a modest decline in domestic oil production. November crude settled at $45.09 a barrel on the New York Mercantile Exchange, down 14 cents for the session. Prices based on the most-active contracts, fell 8.4% for the month of September and traded more than 15% lower year to date.