Stocks Ended Lower, Oil Prices Slid
-- Wednesday, June 12, 2019, 16:33 --
U.S. stocks ended slightly lower on Wednesday, as investors digested a reading on May consumer inflation and continued to eye the U.S.-China trade fight. The Dow Jones Industrial Average fell 43.68 points, or 0.17%, to 26,004.83. The S&P 500 was down 5.88 points, or 0.20%, to 2,879.84. The Nasdaq Composite declined 29.85 points, or 0.38%, to 7,792.72.
Oil prices on Wednesday logged the lowest finish since January as U.S. crude supplies climbed a second week in a row and concerns about energy demand persisted on the back of growing U.S.-China trade tensions. West Texas Intermediate crude for July delivery fell $2.13, or 4%, to settle at $51.14 a barrel. August Brent crude lost $2.32, or 3.7%, to $59.97 a barrel.
Concerns of U.S.-China trade relations continue to simmer in the background. In one of the latest updates to U.S.-China trade relations, President Donald Trump said Wednesday he was personally standing in the way of a trade agreement with Beijing until an acceptable agreement could be reached.
The Energy Information Administration on Wednesday reported that U.S. crude supplies climbed by 2.2 million barrels for the week ended June 7. That marked a second weekly gain in a row.