West Texas Intermediate extended its advance from a seven-month low in New York, heading for the biggest gain in almost a week before data forecast to show U.S. crude inventories fell. Brent was steady in London.
WTI advanced as much as 1.4 percent, halting a three-day decline. U.S. crude inventories probably shrank by 1.5 million barrels last week to 358.1 million, according to a Bloomberg News survey before a report from the Energy Information Administration tomorrow. Brent’s premium to WTI shrank to the least in a week amid speculation that a cease-fire in eastern Ukraine allays the risk of a disruption to the region’s energy supplies.