WTI Trades Near Lowest in a Month on U.S. Fed Taper Concern
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West Texas Intermediate crude traded near the lowest level in a month amid speculation that the Federal Reserve will further curb stimulus measures after signs of improvement in the U.S. economy.
Futures were little changed after tumbling 3 percent yesterday, the biggest drop since Nov. 7, 2012, as the dollar gained. Investors are weighing how quickly the Fed will reduce bond purchases after data yesterday showed U.S. jobless claims fell and manufacturing expanded. Crude stockpiles declined for the fourth time in five weeks, according to a Bloomberg News survey before data from the Energy Information Administration.