WTI Fluctuates; Poised for First Weekly Drop in a Month
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West Texas Intermediate crude headed for the first weekly decline in a month after U.S. consumption of gasoline and distillate fuels dropped.
Futures fluctuated in New York after rising yesterday by the most in six days. U.S. gasoline consumption shrank 1.2 percent last week and demand for distillate fuels, including heating oil and diesel, decreased 2.4 percent, Energy Department data show. WTI may drop next week amid concern that weaker economic growth will reduce fuel use, according to a Bloomberg News survey.