Oil Futures Settle With a Loss Of 4.3%

By Myra P. SaefongMarketWatch Pulse

Oil futures on Wednesday suffered a loss of more than 4% after U.S. government data showed an unexpected increase in weekly crude-oil supplies. September crude dropped $1.82, or 4.3%, to settle at $40.80 a barrel on the New York Mercantile Exchange. The September contract expires on Thursday.

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