Oil Market Update : Epic Research Singapore

Oil futures settled barely lower on Wednesday, recouping nearly all of their earlier losses after a spate of disappointing U.S. economic data that dulled the prospects for energy demand.

Traders awaited weekly reports that are expected to show an increase in domestic crude supplies.

November West Texas Intermediate crude CLX5, -0.58%  fell 2 cents to settle at $46.64 a barrel on the New York Mercantile Exchange. That marked a third straight session decline for WTI oil.

November Brent crude LCOX5, -0.02%  traded on London’s ICE Futures exchange fell 9 cents, or 0.2%, to $49.15 a barrel.

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