WTI Oil Falls From 2-Year High as Syria Strike Debated
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West Texas Intermediate fell from the highest settlement since May 2011 amid easing concern of an imminent American-led strike against Syria.
Futures slid as much as 1.4 percent in New York as the U.K. and France said they favor waiting for the results of a United Nations investigation into President Bashar al-Assad’s alleged use of chemical weapons. Prices surged yesterday on concern the conflict in Syria may spread and threaten oil supplies from the Middle East. Brent’s 14-day relative strength index stayed above 70 for a third day, according to data compiled by Bloomberg, signaling gains may have been exaggerated.