Oil ends at six-week low (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Oil futures settled at a six-week low on Wednesday on concerns about plentiful supplies amid weak demand and as investors had to deal with another sharp drop in prices earlier in the session. Crude for October delivery (clv2) lost $3.31, or 3.5%, to $91.98 a barrel on the New York Mercantile Exchange. Other energy futures tracked oil futures lower.

Oil futures lose more ground after supplies data (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures added to losses Wednesday after a weekly government report showed a larger-than-expected increase in supplies. Crude for October delivery (clv2) was off $2.88, or 3%, to $92.42 a barrel on the New York Mercantile Exchange. It traded at $92.98 before the report. The Energy Information Administration said crude inventories rose 8.5 million barrels in the week ended Sept. 14. Analysts polled by Platts had expected an increase of 2.5 million. The EIA also said gasoline stockpiles were down 1.4 million barrels, while distillates supplies were down 300,000 barrels. The analysts surveyed by Platts had expected rises of 1 million barrels each for distillates and gasoline inventories.