WTI crude trades near 4-month low

West Texas Intermediate traded near a four-month low as crude stockpiles gained for a sixth week in the US, the world’s biggest oil consumer. Libya may resume production from one of its largest oil fields by next week.

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Published: Fri 1 Nov 2013, 10:34 AM

Last updated: Sat 4 Apr 2015, 10:57 AM

WTI for December delivery was at $96.76 a barrel on the New York Mercantile Exchange, down one cent at 9:30am London time. The contract fell 1.5 per cent to $96.77 yesterday, the lowest close since June 28.

Prices have slid 5.4 per cent in October after losing 4.9 per cent in September. Brent for December settlement was down 22 cents at $109.64 a barrel on the London-based ICE Futures Europe exchange.

The European benchmark crude was at a premium of $12.83 to WTI. The spread was $13.09 yesterday, the widest since April 2.

Published: Fri 1 Nov 2013, 10:34 AM

Last updated: Sat 4 Apr 2015, 10:57 AM

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