Crude futures settle lower

NEW YORK, Dec. 31 (Xinhua) -- Oil prices fell on Wednesday.

The West Texas Intermediate for February delivery dropped 53 cents, or 0.91 percent, to settle at 57.42 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for March delivery lost 48 cents, or 0.78 percent, to settle at 60.85 dollars a barrel on the London ICE Futures Exchange.