Published August 10, 2016 2:48pm EDT | Updated August 10, 2016 3:04pm EDT

Oil Futures Settle At a One-week Low

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.