WTI Crude Tumbles Most in Two Months on Ukraine
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West Texas Intermediate crude tumbled the most in two months as Brent dropped amid speculation that tension between Ukraine and Russia, the world’s biggest energy exporter, won’t disrupt oil supplies.
WTI fell from a five-month high. Russian President Vladimir Putin said there’s no immediate need for the country to invade Ukraine. The southern branch of the Druzhba pipeline, which carries Russian oil via Ukraine to Europe, is running at planned rates, according to the operator. Prices also slid on estimates that U.S. crude inventories rose for a seventh week.