West Texas Intermediate fell to trade near the lowest price in more than four months amid speculation crude inventories increased for a seventh week in the U.S., the world’s biggest oil consumer.
Futures eased 0.2 percent after settling last week at the lowest close since June. Crude stockpiles probably expanded by 2.2 million barrels to 386.1 million last week as production climbed to a 24-year high, according to a Bloomberg News survey of analysts before data from the Energy Information Administration tomorrow. Libya is preparing to resume crude exports at its Hariga terminal in coming days.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.