WTI Crude Heads for Monthly Drop as Supplies Seen Rising
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West Texas Intermediate fell, heading for a monthly decline before a report that may show U.S. crude inventories at a two-decade peak.
Futures fell as much as 0.9 percent in New York after advancing 1.6 percent yesterday. Crude stockpiles increased by 1.1 million barrels last week to 389.7 million, the most since July 1990, according to a Bloomberg survey before a report from the Energy Information Administration tomorrow. WTI’s discount to Brent narrowed to a 15-month low.