West
Texas Intermediate crude fluctuated after closing at the lowest level in a
month as Russia moved to block any United Nations resolution threatening force
against Syria, dimming speculation that strikes will lead to Middle East supply
disruptions.
Futures
were little changed after a 1.6 percent slide on Sept. 20 capped a second
weekly loss. A U.S.-European plan to include enforcement in any agreement on
Syrian chemical weapons disarmament is “irresponsible and unprofessional,”
Russian Foreign Minister Sergei Lavrov said in an interview published
yesterday. Prices fluctuated before data that’s forecast to show expansion in
Chinese and European manufacturing.
WTI
for November delivery fell as much as 33 cents to $104.42 a barrel in
electronic trading on the New York Mercantile Exchange and was at $104.67 a
barrel at 9:07 a.m. Singapore time. The October contract, which expired Sept.
20, closed at $104.67 a barrel, the lowest settlement since Aug. 21. The volume
of all futures traded was about 44 percent below the 100-day average.
(Source: Bloomberg)
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