West Texas Intermediate fell for a second day after industry data showed U.S. inventories rose for a fourth week, the longest run of gains since February. China’s oil stockpiles climbed for a second month.
Most U.S. stocks rose, led by financial shares, as the Standard & Poor’s 500 Index extended its rally past 1,600. The euro fell as European Central Bank President Mario Draghi said policy will remain accommodative and the ECB will act again to boost growth if needed.
Brent crude futures fell below $100 a barrel in London for the first time since July on concern that slowing economic growth will curb fuel demand, while supplies from the North Sea recover after oilfield maintenance.
Following are comments from Jonathan Barratt, managing director at Commodity Broking Services Pty. in Sydney, on the outlook for a Group of 20 farm ministers meeting in Paris today. He spoke to Linzie Janis on Bloomberg Television’s “First Look.”