Energy prices turned lower Wednesday after a government report showed the nation’s crude oil inventories are growing as demand for some fuels continues inching forward.
Oil prices began falling in electronic trading ahead of the report. A barrel of light sweet crude for January delivery lost 44 cents to $58.40 on the New York Mercantile Exchange. The January Brent contract on London’s ICE Futures exchange also dropped 83 cents to $55.55 a barrel.