Crude futures settle lower

NEW YORK, Oct. 23 (Xinhua) -- Oil prices fell on Wednesday.

The West Texas Intermediate for December delivery lost 97 cents, or 1.35 percent, to settle at 70.77 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for December delivery dropped 1.08 dollars, or 1.42 percent, to settle at 74.96 dollars a barrel on the London ICE Futures Exchange.