West Texas Intermediate fell below $95 a barrel for the first time since June on surging U.S. stockpiles and as the dollar gained versus the euro, curbing commodity demand from investors.

Futures headed for a fourth straight weekly decline, the longest stretch of decreases in more than a year. A U.S. government report on Oct. 30 showed that supplies advanced a sixth week. The dollar climbed against the euro for a fifth day on speculation that the European Central Bank will reduce interest rates to spur economic growth.

WTI for December delivery decreased $1.50, or 1.6 percent, to $94.88 a barrel at 11:20 a.m. on the New York Mercantile Exchange. Futures touched $94.81, the lowest intraday level since June 26. Prices are down 3 percent this week and fell 5.8 percent in October. The volume of all futures traded was about 22 percent below the 100-day average.

Brent for December settlement dropped $1.88, or 1.7 percent, to $106.96 a barrel on the London-based ICE Futures Europe exchange. Volume was 18 percent higher than the 100-day average. The European benchmark crude traded at a $12.08 premium to WTI, down from $12.46 yesterday.