Despite a dip in crude supplies, West Texas Intermediate crude dropped below $28 while Brent managed to make gains Wednesday. March WTI lost 49 cents to end trade at $27.45 a barrel on the New York Mercantile Exchange. April Brent crude added 52 cents to settle at $30.84 a barrel on the London ICE Futures Exchange.
The U.S. Energy Information Administration’s weekly crude supply report indicated inventories dropped by 800,000 barrels last week. Despite the drawdown, WTI still fell on worries that global demand is slowing.
March natural gas slipped 5.2 cents on Wednesday. The New York Mercantile Exchange contract settled at $2.046 per million British thermal units.
