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Oil fell
West Texas
Intermediate crude decreased, extending a second monthly loss, after a
government report showed that
Futures
fell as much as 1.4 percent after the Energy Information Administration said
stockpiles rose 4.09 million barrels to 383.9 million last week. A 2.4
million-barrel gain was projected in a Bloomberg survey. The EIA, the Energy
Department’s statistical arm, said supplies at
WTI for
December delivery declined 84 cents, or 0.9 percent, to $97.36 a barrel at
11:34 a.m. on the New York Mercantile Exchange. The contract traded at $97.15
before the release of the report at 10:30 a.m. in
Brent for
December settlement rose 44 cents, or 0.4 percent, to $109.45 a barrel on the
London-based ICE Futures Europe exchange. Volume was 26 percent below the
100-day average. The European benchmark traded at an $12.09 premium to WTI, up
from $10.81 yesterday.
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