SAN FRANCISCO (MarketWatch) -- Oil futures settled below $87 a barrel Thursday, marking a third-straight losing session, on the back of rising petroleum supplies and a weak economic outlook on the euro zone. January crude oil (US:clf3) fell $1.62, or 1.8%, to settle at $86.26 a barrel on the New York Mercantile Exchange. Prices fell a total of 1.4% over the past two trading sessions. "Oil sold off today because of a weak economic outlook supplied by [European Central Bank President Mario] Draghi at the ECB meeting, coupled with a growing U.S. supply of the black gold," said Jason Rotman, president of Lido Isle Advisors. "We have been strongly bearish on oil," he said, adding that $82 for crude is his next target on the downside.
