From CNBC:
Oil prices threatened to fall through key technical levels on Wednesday after the government issued a bearish report on U.S. fuel stockpiles.
U.S. West Texas Intermediate crude futures fell nearly 4 percent, plunging to a five-week low below $45 a barrel, following the report. WTI last traded at $44.64, within $1 of the recent low of $43.76 struck on May 5.