US WTI crude oil futures settle down sharply on the day

Settle at $55.70 per barrelUS WTI crude oil futures are settling the day down sharply.  The contract is closing at $55.70 per barrel, down $1.06 or 1.87%.
The low extended to $55.18. While the high reached $56.77.
The contract fell today on the back of forecasts for rising U.S. crude output and a more sanguine outlook for global demand growth from a report from the International Energy Agency. Article Source

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