CME : WTI Crude Oil futures closed down but bounced off lows.

WTI Crude Oil futures closed lower, but a late session rally brought the price close to unchanged after an early sell-off. The Chevron El Segundo refinery is operating at reduced rates following a fire, causing a stockpile of crude oil and a buildup of inventories on the West Coast. Additionally, seaborne crude shipments from Russia reached a 16-month high due to drone strikes on domestic refineries, which has amplified concerns over a global supply glut.