WTI Trades Near Two-Week High on Economy; Sudan Threat
This article is for subscribers only.
West Texas Intermediate declined from the highest closing price in more than two weeks as Chinese economic data trailed estimates and the North Sea Buzzard oil field resumed.
WTI dropped as much as 0.7 percent, halting a three-day advance. China’s industrial output rose a less-than-forecast 9.2 percent last month, while export gains were at a 10-month low and imports dropped, weekend data show. Production at the Buzzard field, the largest contributor to the benchmark Forties crude grade, returned to approximately full pumping rates over the past two days, according to two people with knowledge of the matter who asked not to be identified.