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Intermediate fell for a second day as
Futures slid as much as 0.9 percent in New York after ending with a loss for the fourth time in five weeks Oct. 11. Senate leaders wrapped up almost four hours of debate without resolution as the government’s borrowing authority is due to lapse in three days. Net crude imports from China, the world’s second-biggest oil consumer, rose to record 25.61 million metric tons last month, customs data released on Oct. 12 show.
WTI for November delivery fell as much as 91 cents to $101.11 and was at $101.52 a barrel in electronic trading on the New York Mercantile Exchange as of 1:18 p.m. in London. The contract slipped 1 percent to $102.02 on Oct. 11, ending down 1.8 percent for the week. The volume of all futures traded was about 5.2 percent above the 100-day average.
Brent for November settlement was $1.02 lower at $110.26 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $8.79 to WTI, narrowing for the first time in six sessions.
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