WTI Crude Declines as U.K. Lawmakers Reject Syrian Action
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West Texas Intermediate fell for a second day as U.K. lawmakers rejected a motion for military action against Syria, reducing the prospect of an imminent strike and easing concern of disruption to Middle East exports.
Futures slid as much as 1.9 percent in New York, trimming this week’s advance to 1.4 percent. The U.K. House of Commons rejected a proposal put forward by Prime Minister David Cameron seeking a military response to what he says is evidence of the use of chemical weapons by Syria. The global oil market is adequately supplied and doesn’t require the release of emergency stockpiles, according to the International Energy Agency.