West Texas Intermediate crude traded near the highest intraday price in three days amid signs that economic growth is being sustained in the U.S. and China, the world’s two biggest oil consumers. Brent also rose in London.
Brent crude traded near its lowest closing level in four days amid speculation that heightened discord between Russia and Ukraine following weekend elections won’t impact oil supply. West Texas Intermediate was steady before economic data.
West Texas Intermediate crude rebounded from the lowest close in almost three weeks as the U.S. said it will toughen sanctions on Russia, the biggest energy exporter, over the Ukraine crisis. Brent was steady as Libya lifted force majeure at one of its ports.
West Texas Intermediate crude fell to a three-week low and Brent decreased after Chinese exports unexpectedly sank, bolstering concern that economic growth in the world’s second-biggest oil consuming nation will slow.