Oil prices fell on Wednesday, with U.S. futures settling below $70 a barrel for the first time in a month, after U.S. crude stockpiles rose 6.5 million barrels, almost triple what analysts had forecast, while exports dropped. Oil had been rising this week on worries about Iranian sanctions and tensions between the United States and Saudi Arabia after the death of Saudi journalist Jamal Khashoggi. U.S. crude oil CLc1 slumped $2.17, or 3 percent, to settle at $69.75 a barrel. “Today’s price decline to below our expected support at the $70 level would appear to set the trade up for a weaker pricing environment than we had anticipated,” Jim Ritterbusch, president of Ritterbusch and Associates, said in a note. Bob Yawger, […]