Crude futures settle lower for a second straight session as the market frets about this weekend’s OPEC+ meeting and the possibility of the group raising output targets further after September.
The EIA’s weekly inventory report was “quite bearish to both crude and the distillates but bullish to gasoline,” Ritterbusch says in a note.
U.S. crude stocks rose by 2.4 million barrels against expectations of a decline.
