WTI oil falls most in three months on fund selling speculation

WTI dropped 2.3% in 12 minutes

Crude Supplies

U.S. crude supplies probably rose 0.5 percent to 374.2 million barrels last week, according to the median estimate of 11 analysts surveyed by Bloomberg. It would be the longest streak of increases since May. Crude production rose to 7.06 million barrels a day in the week ended Feb. 8, the most since December 1992, according to the EIA.

The Energy Information Administration, the Energy Department’s statistical arm, is scheduled to release its weekly report at 11 a.m. tomorrow in Washington, one day later than normal because of the Presidents Day holiday on Feb. 18.

Electronic trading volume on the Nymex was 665,952 contracts as of 4:33 p.m. It totaled 575,423 contracts yesterday, 10 percent above the three-month average. Open interest was 1.65 million.

Bloomberg News

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