Oil Near Four Month Low on Higher Inventory

West Texas Intermediate crude fluctuated near a four-month low after U.S. inventories surged and equities advanced on corporate earnings and manufacturing data from the U.S. and China.
WTI for December delivery dropped 1 cent to $96.85 a barrel at 12:30 p.m. on the New York Mercantile Exchange. The contract touched $95.95, the lowest intraday level since June 27. The volume of all futures traded was 8.5 percent below the 100-day average.
Brent oil for December settlement fell 57 cents, or 0.5 percent, to $107.23 a barrel on the London-based ICE Futures Europe exchange. Futures touched $107, the lowest level since Oct. 1. Volume was 8.2 percent higher than the 100-day average.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza