Oil futures log lowest settlement in more than 3 weeks

Oil futures declined on Wednesday, pushing prices to their lowest finish since late April, pressured by overall losses in the broader financial market, as traders digested the first weekly U.S. crude inventory rise in three weeks. West Texas Intermediate oil for June delivery fell $2.13, or nearly 3.3%, to $63.36 a barrel on the New York Mercantile Exchange, after trading as low as $61.95. Front-month contract prices marked their lowest finish since April 27, according to FactSet data.

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