Oil Market Update : Epic Research Singapore

Oil prices lost ground on Wednesday, with the U.S. benchmark slipping below $58 a barrel to its lowest settlement of the month as traders awaited weekly U.S. data that are expected to show a moderate decline in crude inventories.

July crude CLN5, +0.30%  settled at $57.51 a barrel, down 52 cents, or 0.9%, on the New York Mercantile Exchange. July Brent crude LCON5, +0.71%  on London’s ICE Futures exchange fell $1.66 cents, or 2.6%, to $62.06 a barrel.

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