Oil futures fell on Wednesday, with U.S. prices ending at their lowest in more than 10 weeks. The potential fallout from the U.S. debt-ceiling debacle and rising odds of a June interest-rate hike both “weighed on oil as the former influence would be a broader riskoff market event, while the latter would further reduce already waning optimism for a soft economic landing this year,” analysts at Sevens Report Research wrote in Wednesday’s newsletter. July West Texas Intermediate crude CLN23 fell $1.37, or 2%, to settle at $68.09 a barrel on the New York Mercantile Exchange. The settlement was the lowest front-month finish since March 20, and prices lost over 11% for the month, according to Dow Jones Market Data.
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