West Texas Intermediate crude fell to the lowest level in two weeks, widening the discount to Brent, as U.S. equities slipped and oil stockpiles expanded. Prices dropped 1.3 percent, following the Standard & Poor’s 500 Index (SPX) amid disappointing corporate earnings. WTI capped the first weekly loss since April 4 as inventories reached the highest level since government weekly data started in 1982. Brent fell less than WTI on concern the Ukraine crisis will escalate and disrupt supplies. “I don’t see anything physical or fundamental that’s bullish for oil,” Kyle Cooper , director of commodities research at IAF Advisors in Houston, said today in a telephone interview. “Equities are falling. The petroleum market is driven by short-term money flows. We probably will test $100.” WTI for June delivery fell $1.34 to $100.60 a barrel on the New York Mercantile Exchange, the lowest settlement since April 7. The futures are […]