Oil Futures End Sharply Lower On U.S. Inventory Rise, Saudi Remarks

By William L. WattsMarketWatch Pulse

Oil futures ended sharply lower Wednesday, pressured by a rise in U.S. inventories and remarks by Saudi Arabia's oil minister, who said the country had the capacity to boost production to meet any demand increase. West Texas Intermediate crude for February delivery on the New York Mercantile Exchange fell $1.27, or 3.4%, to settle at $36.60 a barrel.

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