Oil futures lower over slowing Chinese economy concerns

Oil futures extend losses as EIA reports increases in U.S. crude, gasoline and distillate supplies. The energy sector is currently experiencing mixed to lower start, supported by strength in the major equity futures and pressured by weakness across the most important commodities
WTI and Brent crude oil futures continued to inch lower for the second successive session as a result of Tuesday’s industry supply report that showed U.S. crude unexpected rise of inventories while concerns about a slowing Chinese economy.