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- Oil fell for a fifth day
Oil fell for a fifth day
West Texas
Intermediate crude fell for a fifth day, the longest stretch of declines since
December, as better-than-expected
Prices
dropped as much as 2 percent. About 333,000 American workers applied for
unemployment benefits last week, below the 335,000 estimate by economists in a survey.
The Fed may begin curbing bond purchases in September, Fed Bank of Chicago
President Charles Evans said Aug. 6.
WTI for
September delivery slid $1.89, or 1.8 percent, to $102.48 a barrel at 10:39
a.m. on the New York Mercantile Exchange. The volume of all futures traded was
6 percent above the 100-day average. Prices last slid for five consecutive days
in the period ended Dec. 10.
Brent for
September settlement slipped $1.36, or 1.3 percent, to $106.08 a barrel on the
London-based ICE Futures Europe exchange. Volume was 1 percent lower than the
100-day average.
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