Oil prices fell to their lowest since May in choppy trading, with US crude dropping below $58 a barrel. Weakness in US equities markets and concerns about oversupply contributed to the bearish sentiment. Diesel futures were down 1.4%, dragging down the oil complex. Traders were cautious ahead of the holidays, with a consensus that supplies will exceed demand next year. The International Energy Agency predicted an unprecedented surplus, with global inventories at a four-year high. Geopolitical tensions, including new sanctions on Venezuelan entities by President Trump, added some support to oil prices. Uncertainty about a peace deal in Ukraine also helped support oil prices.

Read more at Yahoo Finance: Oil Falls to Lowest Since May in Choppy Trade With Glut in Focus