Oil prices tumbled 4% on Wednesday to their lowest settlements in nearly five months, weakened by another unexpected rise in U.S. crude stockpiles and by a dimming outlook for global oil demand. Brent crude futures fell $2.32, or 3.7%, to settle at $59.97 a barrel, the international benchmark’s lowest close since Jan. 28. U.S. West Texas Intermediate crude futures ended $2.13, or 4.0%, lower at $50.72 a barrel, its lowest settlement since Jan. 14. The U.S. Energy Information Administration (EIA) reported domestic crude stockpiles rose unexpectedly for the second week in a row, climbing 2.2 million barrels last week after analysts had forecast a decrease of 481,000 barrels. At 485.5 million barrels, U.S. commercial stocks were at their highest since July 2017 and about 8% above the five-year average for this time of year, the EIA said. “Its definitely a market that is still in […]