Futures Movers: Oil settles lower, but pares losses as hurricane threat cuts Gulf oil output

Oil futures settled lower on Wednesday, undermined by a weekly rise in U.S. crude-oil inventories and concern about demand given the muddled outlook for another round of fiscal stimulus by Congress in response to the COVID-19 pandemic.

Oil futures settled lower on Wednesday, undermined by a weekly rise in U.S. crude-oil inventories and concern about demand given the muddled outlook for another round of fiscal stimulus by Congress in response to the COVID-19 pandemic.