West Texas Intermediate crude fell, paring a sixth consecutive weekly gain, on speculation prices have climbed more than justified as the heating season nears its end. Brent also slipped, narrowing a weekly advance. WTI for April delivery fell 55 cents to settle at $102.20 a barrel on the New York Mercantile Exchange. The volume of all futures traded was 28 percent below the 100-day average at 4:05 p.m. Crude gained 1.9 percent this week. The stock piles are expected to increase next week and prices are to fall if that happens.
Brent for April settlement slipped 45 cents, or 0.4 percent, to end the session at $109.85 a barrel on the London-based ICE Futures Europe exchange. Prices rose 0.8 percent this week. Trading was 29 percent lower than the 100-day average. The European benchmark crude settled at a $7.65 premium to WTI, little changed from $7.55 at yesterday’s close.
Brent for April settlement slipped 45 cents, or 0.4 percent, to end the session at $109.85 a barrel on the London-based ICE Futures Europe exchange. Prices rose 0.8 percent this week. Trading was 29 percent lower than the 100-day average. The European benchmark crude settled at a $7.65 premium to WTI, little changed from $7.55 at yesterday’s close.