Crude-oil prices extended their losses for the third session in a row, reversing earlier gains recorded in the wake of a much-larger-than-expected drop in the U.S. crude supplies.
November West Texas Intermediate crude was down by 44 cents or 0.9% to settle at $49.98 per barrel on the New York Mercantile Exchange, while the international benchmark, Brent crude Futures for December lost 20 cents, or 0.4%, to end the session at $55.80 per barrel on the ICE Futures Europe.
U.S. stocks inched up in the previous session, deepening their position in the green zone as all major indices reached record levels.
The S&P 500 ended the session rising for seventh day in a row. The benchmark index was up by 3.16 points, or 0.1%, closing at 2,537.74 with six of its 11 main sectors closing in the positive territory.
The Dow Jones Industrial Average was also in its all time high as it managed to wring out a small gain of 19.7 points, or 0.1%, ending the session at 22,661.57. The NASDAQ Composite Index also gained another 2.91 points, approximately 0.1%, and stood at 6,534.63 as the session closed.