U.S. oil futures fell by 3% on Wednesday, with losses in the energy sector led by sharp declines in futures prices for petroleum products. The Energy Information Administration reported Wednesday that domestic crude-oil supplies fell last week, but supplies of gasoline and distillates climbed. U.S. benchmark WTI crude for January delivery CLF23 fell $2.24, or 3%, to settle at $72.01 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since Dec. 21, 2021, according to Dow Jones Market Data. January heating oil HOF23 also fell by 4.6% to $2.7805 a gallon and January gasoline RBF23 settled at $2.0772 a gallon, down nearly 3.4%.
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