Nymex oil futures end near a 4-month low under $49

Oil futures settled lower Thursday, as worries about the global glut of supplies helped to send U.S. prices near a 4-month low under $49 a barrel.

September West Texas Intermediate crude CLU5, +0.68%  fell 74 cents, or 1.5%, to settle at $48.45 a barrel on the New York Mercantile Exchange, the lowest since March 31.

September Brent crude LCOU5, +0.42%  on London’s ICE Futures exchange shed 86 cents, or 1.5%, to $55.27 a barrel.

Nymex oil lost 3.3% Wednesday and has fallen more than 18% this month.

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