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Oil fell
West Texas
Intermediate crude headed for a sixth weekly decline, the longest stretch of
losses in 15 years, as rising U.S. supplies countered speculation that the
Federal Reserve will maintain stimulus of the economy.
Futures
have fallen 0.5 percent this week, poised for the longest streak since December
1998.
WTI for
December delivery advanced 36 cents, or 0.4 percent, to $94.12 a barrel at
10:18 a.m. on the New York Mercantile Exchange. The volume of all futures
traded was 32 percent below the 100-day average.
Brent for
January settlement declined 12 cents to $108.16 a barrel on the London-based
ICE Futures Europe exchange. The December contract expired yesterday after
rising 1.3 percent to $108.54. Volume was 12 percent lower than the 100-day
average.
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