TEXAS

The Pak Banker - - INTERNATIONAL BUSINESS/SPORTS -

West Texas In­ter­me­di­ate slipped from near a five-week high amid ris­ing crude in­ven­to­ries in the U.S., the world's big­gest con­sumer of the com­mod­ity. Fu­tures fell as much as 0.5 per­cent. Crude stock­piles ad­vanced 3.7 mil­lion bar­rels last week, the Amer­i­can Pe­tro­leum In­sti­tute said yes­ter­day. The euro fell to its weak­est level since Nov. 21 against the dol­lar, un­der­min­ing the ap­peal of com­modi­ties priced in the U.S. cur­rency. An En­ergy De­part­ment report to­day may show a gain of 1.3 mil­lion, ac­cord­ing to a Bloomberg News sur­vey. WTI rose 1.6 per­cent yes­ter­day, the most this year, as U.S. durable goods or­ders and home prices climbed more than econ­o­mists forecast. "The crude in­ven­tory builds re­ported last night are weigh­ing on prices," said Robert Mon­te­fusco, a se­nior bro­ker at Suc­den Fi­nan­cial Ltd. in Lon­don, who ear­lier this month cor­rectly pre­dicted oil prices would de­cline. "The euro is get­ting bashed as Europe's sit­u­a­tion looks dire, which is also pres­sur­ing oil." WTI for May de­liv­ery dropped as much as 49 cents to $95.85 a bar­rel in elec­tronic trad­ing on the New York Mer­can­tile Ex­change, trad­ing for $95.91 at 9:37 a.m. Lon­don time. The vol­ume of all fu­tures traded was 46 per­cent be­low the 100-day av­er­age.

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