(MENAFN- Khaleej Times) West Texas Intermediate crude traded near the highest price in two weeks as an escalating conflict in Egypt fanned concern that oil shipments through the country may be disrupted.
WTI for September delivery was at $107.19 a barrel in electronic trading on the New York Mercantile Exchange, down 14 cents as of 10:30 a.m. London time. Brent for October settlement decreased 10 cents to $109.50 a barrel on the London-based ICE Futures Europe exchange. The September contract expired yesterday after climbing 91 cents to $111.11, the highest since March 7. The front-month European benchmark crude was at a premium of $2.55 to WTI. The spread widened for a fourth day yesterday to $3.78.
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