West Texas Intermediate fluctuated near the lowest level in four months as Libya prepared to resume exports from two terminals and the dollar slid against the euro.
WTI for December delivery rose 1 cent to $94.62 a barrel at 11:05 a.m. on the New York Mercantile Exchange after dropping to $94.06, the lowest intraday price since June 26. The volume of futures traded was about 24 percent below the 100-day average.
Brent for December settlement slipped 8 cents to $105.83 a barrel on the London-based ICE Futures Europe exchange. Volume was 8.6 percent above the 100-day average. The European benchmark’s premium over WTI narrowed to $11.21 from $11.30 on Nov. 1.
The dollar fell as much as 0.2 percent to $1.352 per euro. A weaker dollar increases oil’s investment appeal.