Oil Market Update : Epic Research Singapore

U.S. oil prices settled lower on Wednesday, down for a fifth straight session, after a U.S. government report showed surprise weekly increases in crude and gasoline inventories.

On the New York Mercantile Exchange, August crude CLQ5, +0.89%  settled at $51.65 a barrel, down 68 cents, or 1.3%, bringing the losses over five sessions to more than 13%. Prices marked their lowest settlement since April 10. Before the supply data, they traded at $52.70.

August Brent crude traded on London’s ICE Futures exchange LCOQ5, +0.74%  rose 20 cents, or 0.4%, to $57.05 a barrel.

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