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Webpage is using inline CSS styles example:

<!--this HTML code with inline CSS rule:-->
<p style="color:red; font-size: 12px">some text here</p>

How to achieve shown below example by tweaking wwb settings
<p>some text here</p>

<!--and the rule added into your CSS file:-->
p{color:red; font-size: 12px}

I'm not at my computer, so trying this from memory:

Go to Tools --> Options --> HTML and check the box to 'Optimize/move inline styles to external style sheet'.

I praise your memory for that @crispy amazing.
Thank You.