Oil Market Update

Crude-oil futures on Wednesday put an end to a three-session winning streak on Nymex that lifted prices by more than 9% as investors turned their focus back to rising U.S. inventories.

Prices continued to decline in the wake of minutes from the Federal Reserve’s January policy meeting that showed central bank officials weren’t in any rush to raise interest rates.

On the New York Mercantile Exchange, March crude CLH5, -2.88%  settled at $52.14 a barrel, down $1.39, or 2.6%.

Brent crude LCOJ5, -1.67%  for April delivery fell $2, or 3.2%, to $60.53 a barrel on London’s ICE Futures exchange.