West Texas Intermediate crude traded near a two-week low on signs of a manufacturing slowdown in China, the world’s second-largest oil consumer. Brent was steady in London amid concern the crisis in Ukraine may worsen.
West Texas Intermediate oil dropped the most in more than three months, widening the discount to Brent, on projections that a government report tomorrow will show that U.S. crude stockpiles climbed last week.
West Texas Intermediate crude declined from its highest closing level in seven weeks on estimates that U.S. supplies rose last week. Brent slipped as U.S. Vice President Joe Biden met with Ukrainian leaders.