Crude oil futures settle at $57.46

Wait 5 sec.

Crude oil futures settled lower today, down $0.81 (-1.39%) at $57.46. The session low reached $57.26, while the high extended to $59.11.Earlier, EIA inventory data showed a build of 3.524 million barrels, following last week’s 3.715 million-barrel increase. Market expectations had called for only a 0.288 million-barrel build, making today’s report notably more bearish for prices.Technically, today’s decline pushed crude to its lowest level since May 5. The next key downside targets sit at the May 5 low of $55.87 and the year’s low from April 9 at $55.15.On the topside, close risk remains between $59.78 and $60.10 — a key resistance zone (see lower yellow area on the chart below). A sustained move above that area would be needed to ease bearish pressure.In addition to the oil inventory data:The USTR’s Greer said China appeared to be moving toward decoupling, while Beijing called recent trade talks “constructive.”Trump’s comments about ongoing talks with Putin, potential US-Russia meetings, and his remarks on Gaza added volatility. This article was written by Greg Michalowski at investinglive.com.