WTI Oil Falls Most in Three Months on Supply Outlook
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West Texas Intermediate oil dropped the most in more than three months, widening the discount to Brent, on projections that a government report tomorrow will show that U.S. crude stockpiles climbed last week.
WTI fell 2.1 percent. Crude supplies increased for the 13th time in 14 weeks, to 397.1 million barrels, a Bloomberg survey showed before tomorrow’s Energy Information Administration report. Brent fell less than WTI after Vice President Joe Biden expressed U.S. support for Ukraine during a visit to the capital Kiev, as an agreement with Russia to ease tension in the former Soviet republic’s east showed weakness.