WTI Crude Slips With Brent to Pare Sixth Weekly Advance
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West Texas Intermediate crude fell, paring a sixth consecutive weekly gain, on speculation prices have climbed more than justified as the heating season nears its end. Brent also slipped, narrowing a weekly advance.
WTI decreased 0.5 percent while diesel futures, a proxy for heating oil, declined for the first time in six days. Supplies of distillate fuel, a category that includes heating oil and diesel, slid by 339,000 barrels last week, Energy Information Administration data yesterday showed, a smaller drop than forecast by analysts in a Bloomberg survey. Gasoline use sank to a one-month low. Futures reached a four-month high Feb. 19.