WTI crude drops on secure Egypt's waterways

Source: Bloomberg, Bloomberg
© Scanpix/Agence France-Presse
West Texas Intermediate crude declined from the highest in 6 months after Egypt's officials announced that traffic through the Suez Canal, one of the main crude waterways, is secure. Despite unrest in Cairo, 55 tankers are planned to pass the Suez Canal. WTI for August settlement fell 0.7% to $102.52 a barrel as of 9:53 a.m. on the New York Mercantile exchange.
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