U.S. Oil Futures Decline After Refiners Reduce Crude Runs

Oil Production Dip Pushing Prices Higher: Phil Streible

U.S. oil benchmark futures closed lower for the second time this week after refineries reduced their crude use by the most in almost four months.

WTI for June delivery slipped 25 cents to $60.50 a barrel on the New York Mercantile Exchange. The contract earlier climbed as much as 1.8 percent.

Brent for June settlement, which expires Thursday, fell 12 cents to $66.74 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $6.39 to WTI, up from $6.11 on Tuesday.

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