WTI Oil Prices Slip After 2-Day, 11% Increase

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WTI Oil Prices Slip After 2-Day, 11% Increase

US benchmark oil prices fall 1.3% to $102.85 a barrel as investors book some profits after prices surged by 11% over the past two sessions and closed yesterday at the highest level in two weeks. “Crude oil prices are lower but holding firm above the $100, as Russia warns Finland and Sweden over joining NATO,” Peter Cardillo at Spartan Capital says in a research note. The decline in prices may also be a delayed response to yesterday’s weekly EIA report that saw US crude-oil stockpiles surge by 9.4 million barrels to their highest level this year, reducing any lingering fears of shortages heading into the peak demand season.