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- Oil dropped
Oil dropped
Oil dropped
as accelerating Chinese inflation bolstered concern that economic stimulus may
be curbed. The spread between crude in
Futures
fell as much as 1.2 percent after the Chinese government said prices rose the
most in seven months. The discount of West Texas Intermediate oil traded in
The Chinese
consumer price index rose 2.5 percent in December from a year earlier, the
National Bureau of Statistics said today in
Crude oil
for February delivery fell to $92.65 a barrel on the New York Mercantile Exchange.
Prices settled at $93.82 yesterday, the highest level since Sept. 18.
Brent oil
for February settlement declined $1.64, or 1.5 percent, to $110.25 a barrel on
the London-based ICE Futures Europe exchange. Volume was 39 percent above the
100-day average. The grade is down 1 percent this week.
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