Bloomberg reported that West Texas Intermediate fell 2.3 percent, to $93.92 a barrel — the most in three months — on rumors that a commodity fund is selling positions.
As quoted in the market news:
WTI for March delivery, which expired today, decreased $2.20 to close at $94.46 a barrel on the New York Mercantile Exchange, the biggest one-day loss since Nov. 20 and the lowest settlement since Jan. 16. The more-active April contract slid $1.88, or 1.9 percent, to $95.22 a barrel.
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