Oil Futures Settle At a One-week Low

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures settled at their lowest level in a week on Wednesday, pressured by an uptick in weekly U.S. crude inventories and news that Saudi Arabia saw record crude output in July. September WTI crude lost $1.06, or 2.5%, to settle at $41.71 a barrel on the New York Mercantile Exchange. That was the lowest settlement since August 3, according to FactSet data.

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