WTI crude slid 0.4 percent today to $105.97 a
barrel on the New York Mercantile Exchange. The grade is up 4.3 percent
this quarter. Brent, the European benchmark, climbed 0.7 percent to $114.26,
for a 6 percent gain in the quarter. U.S. gross domestic product will increase
2.2 percent this year and 3 percent in 2015, following a 1.9 percent gain in
2013, U.S. crude
production increased
17,000 barrels a day to 8.477 million, the most since October 1986. Output has
surged this year as a combination of horizontal drilling and hydraulic
fracturing, or fracking, has unlocked supplies trapped in shale formations,
including the Bakken in North
Dakota and
the Eagle Ford in Texas.
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