U.S. oil prices settled with a loss on Wednesday for the first time in five trading sessions. Prices held onto their losses after the Federal Reserve raised its benchmark interest rate, as expected. Traders also weighed data from the Energy Information Administration showing smaller-than-expected weekly declines for U.S. crude, gasoline, and distillate supplies. West Texas Intermediate crude for September delivery
CLU23,
declined by 85 cents, or 1.1%, to settle at $78.78 a barrel on the New York Mercantile Exchange.
