Oil Puts An End To Its Streak Of Gains

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures settled lower Wednesday, putting an end to the market's longest streak of gains since August. The Energy Information Administration reported a weekly decline of 2.2 million barrels in U.S. crude supplies-the largest so far this year, but concerns about rising domestic production put pressure on prices. May West Texas Intermediate crude lost 29 cents, or 0.5%, to settle at $53.11 a barrel. Prices had posted gains in each of the last six sessions.

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