25th February 2014
West Texas Intermediate (WTI) crude oil prices have fallen in commodities markets today (February 25th), ahead of a key US supply report.
The Energy Information Administration data is expected to show crude stockpiles in the country increased by 1.3 million barrels last week when it is published tomorrow.
Investors will also monitor today's official gauge of American consumer confidence, which will give some indication as to the progress of the country's economic recovery.
Official US gross domestic product figures are set to be published on February 28th and will be scrutinised as the country is the world's largest consumer of oil.
WTI for April delivery has declined by 80 cents to $102.02 per barrel on the New York Mercantile Exchange, with the contract having added 0.6 per cent over the course of the previous session.
On the London-based ICE Futures Europe exchange, Brent for settlement in April dropped by 0.5 per cent to $110.05 per barrel.
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