Stocks Closed Lower, Crude Oil Under Pressure

U.S. stocks closed lower on Wednesday as crude oil prices extended losses on the heels of data that showed an unexpected rise in U.S. inventories. The Dow Jones Industrial Average fell 138.19 points, or 0.59%, to 23,271.28. The S&P 500 lost 14.25 points, or 0.55%, to ,564.62. The Nasdaq Composite dropped 31.66 points, or 0.47%, to 6,706.21.

Oil futures on Wednesday logged their lowest finish in nearly two weeks after the EIA reported a surprise climb in domestic crude inventories for a second week in a row. December West Texas Intermediate crude declined by 37 cents, or 0.7%, to settle at $55.33 a barrel. January Brent fell 34 cents, or 0.6%, to $61.87 a barrel.