WTI Falls From Four-Month High With Brent on Ukraine Risk

West Texas Intermediate and Brent crudes dropped from the highest price since September amid speculation that heightened tension between Russia and Ukraine is unlikely to result in a disruption to oil supplies.

WTI for April delivery slid as much as $1.46 to $103.46 a barrel in electronic trading on the New York Mercantile Exchange and was at $103.56 as of 11:09 a.m. London time. The contract rose 2.3 percent to $104.92 yesterday, the highest close since Sept. 19. The volume of all futures traded was almost double above the 100-day average.

Brent for April settlement dropped as much as $1.89, or 1.7 percent, to $109.31 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $5.95 to WTI on ICE, dipping below $6 a barrel for the first time since Oct. 7. The spread closed at $6.28 yesterday, narrowing for a fifth day.