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- Oil fell to 5-week low
Oil fell to 5-week low
West Texas
Intermediate tumbled more than $2 a barrel following declines in metals on
speculation that a commodity fund is selling positions. Oil also decreased
after gasoline futures slid for a second day from the highest level since
September.
The Energy
Information Administration, the Energy Department’s statistical arm, is
scheduled to release its weekly report at
WTI for March delivery, which expires today, dropped to $93.92 a barrel on the New York Mercantile Exchange.
Brent for
April settlement dropped $1.60, or 1.4 percent, to $115.92 a barrel on the
London-based ICE Futures Europe exchange.
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