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Oil fell
West Texas
Intermediate fell for a third day as
Prices slid
as much as 0.7 percent. Inventories rose by 4.09 million barrels to 383.9
million last week, the highest level since June, the Energy Information
Administration said yesterday. The euro declined the most since June versus the
dollar as inflation in the euro region unexpectedly dropped. WTI’s discount to
Brent shrank from the widest in seven months.
WTI for
December delivery slid 50 cents, or 0.5 percent, to $96.27 a barrel at 10:43
a.m. on the New York Mercantile Exchange. It settled at a four-month low of
$96.77 yesterday. The volume of all futures traded was 9.5 percent below the
100-day average. Prices have retreated 5.9 percent in October.
Brent for December settlement dropped 91 cents, or 0.8 percent, to $108.95 a barrel on the London-based ICE Futures Europe exchange. Volume was 4.4 percent above the 100-day average. The European benchmark’s premium to WTI was $12.68. Earlier, it touched $13.58, the most since April.
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