West Texas
Intermediate crude fell for the third time in four days as the
Futures
dropped as much as 1.4 percent. The Senate Foreign Relations Committee is
scheduled to vote on a use-of-force resolution today. The international
community’s credibility is on the line after
Russian
President Vladimir Putin said the U.S. Congress has no right to approve
military action against
WTI for
October delivery dropped $1.22, or 1.1 percent, to $107.32 a barrel at 9:48
a.m. on the New York Mercantile Exchange. The volume of all futures traded was
13 percent below the 100-day average.
Brent for
October settlement slid $1, or 0.9 percent, to $114.68 a barrel on the
London-based ICE Futures Europe exchange. The volume of all futures traded was
23 percent above the 100-day average. Brent’s premium to WTI widened to $7.36 a
barrel from $7.14 yesterday.