Market Chatter: Oil Pares Loss by Close After Fed Beige Book
"Oil futures settled lower Wednesday, pressured by a big climb in last week's U.S. crude supplies. But prices pared losses to trade back above $90 a barrel toward the end of the trading session, after the latest Fed Beige Book report said economic activity expanded at the same "modest to moderate pace" shown in the prior survey released in mid-January," MarketWatch reported.
It said: "April crude fell 39 cents, or 0.4%, to settle at $90.43 a barrel on the New York Mercantile Exchange. Prices had touched a low of $89.55."
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