Crude futures settle lower

NEW YORK, May 27 (Xinhua) -- Oil prices went down on Wednesday.

The West Texas Intermediate for July delivery lost 5.21 U.S. dollars, or 5.55 percent, to settle at 88.68 dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery dropped 5.29 dollars, or 5.31 percent, to settle at 94.29 dollars a barrel on the London ICE Futures Exchange.