Oil Prices Lose Steam Despite Steep Drop in U.S. Crude Inventory

Crude prices declined Friday, even amid a report Thursday showing U.S. oil inventories fell by 14.5 million barrels - the largest weekly decline since 1999. Jasper Lawler, a market analyst with CMC Markets, based in London, said the pullback came amid Tropical Storm Hermine, which impacted the Gulf of Mexico. 'It may affect the coming weeks - but it's not a long-term issue for oil prices,' Lawler said. Investors await OPEC's meeting in Alergia later this month. TheStreet's Scott Gamm reports from Wall Street.