Crude futures settle lower

NEW YORK, Jan. 8 (Xinhua) -- Oil prices fell on Wednesday.

The West Texas Intermediate for February delivery dropped 93 cents, or 1.25 percent, to settle at 73.32 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery decreased 89 cents, or 1.16 percent, to settle at 76.16 dollars a barrel on the London ICE Futures Exchange.