US September Crude Ends Higher At Expiration, Brent Slumps
Brent October crude fell 54 cents to settle at $46.62. It extended losses to a contract low of $46.06 by 4:25 p.m. EDT (2025 GMT) in post-settlement trading.
"The U.S. stock market's weakness pressured Brent late and the Greek prime minister's resignation also is causing worry about Europe's economy," said Phil Flynn, analyst at Price Futures Group in Chicago.
U.S. crude inventories rose 2.6 million barrels to 456.21 million barrels last week, the Energy Information Administration said in a report on Wednesday, as imports rose and refinery utilization dropped.
Analysts had been expecting a stock draw, and the news pushed U.S. crude down more than 4 percent on Wednesday.
U.S. RBOB gasoline had the biggest percentage loss in the oil futures complex, dropping 2.46 cents, or 1.5 percent, to settle at $1.5346 a gallon.
"The rotation in downside selling leadership to the gasoline market during the past week appears to reflect heavy speculative liquidation," Jim Ritterbusch, president at Ritterbusch & Associates in Galena, Illinois, said in a research note.
The front-month September contract's premium to October
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