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Intermediate crude fell for a second day after manufacturing gauges in
decreased as much as 1 percent. The Institute for Supply Management’s
WTI for March delivery dropped 94 cents, or 1 percent, to $96.55 a barrel at 11:13 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 13 percent above the 100-day average.
Brent for March settlement decreased 99 cents, or 0.9 percent, to $105.41 a barrel on the London-based ICE Futures Europe exchange. The volume of all futures traded was 7.6 higher than the 100-day average.
The European benchmark’s premium to WTI narrowed to as little at $8.09, the least since Oct. 18 on an intraday basis.
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