WTI Falls From Four-Month High With Brent on Ukraine Risk
This article is for subscribers only.
West Texas Intermediate crude dropped from the highest price since September amid speculation that heightened tension between Russia and Ukraine is unlikely to result in a disruption to oil supplies.
WTI futures fell as much as 1.5 percent, declining for the first time in three days. Russian President Vladimir Putin told reporters at his residence near Moscow that there’s no immediate need to invade Ukraine and that Russia isn’t considering absorbing the Black Sea region of Crimea. Investor fears of a supply disruption are misplaced, according to Societe Generale SA. WTI’s rally was unsustainable, a technical indicator shows.