WTI Trades Near Three-Day High

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West Texas Intermediate traded near a three-day high amid speculation that crude supplies declined a second week in the U.S., the world��s biggest oil consumer. Brent was steady in London.

Futures were little changed in New York after advancing 0.6 percent yesterday. Crude stockpiles probably shrank by 1 million barrels last week, according to a Bloomberg News survey before an Energy Information Administration report tomorrow. Rebels in eastern Ukraine said they��re seeking to join Russia after disputed referendums while the government in Kiev was given a deadline to pay for Russian gas to prevent a supply cutoff. China reports industrial production data today.

WTI for June delivery was at $100.57 a barrel, down 2 cents, in electronic trading on the New York Mercantile Exchange at 11:44 a.m. Sydney time. The contract rose 60 cents to $100.59 yesterday, the highest close since May 7. The volume of all futures traded was about 66 percent below the 100-day average. Prices are up 2.2 percent this year.

Brent for June settlement was 11 cents higher at $108.52 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude at a premium of $7.95 to WTI. It ended the session at $7.82 yesterday.

Source : Bloomberg

Dollar Touches One-Week High Versus Yen Before U.S. Retail Sales

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The dollar rose to the highest in a week versus the yen before a report today forecast to show U.S. retail sales increased for a third month.

The greenback traded near the strongest in a month against the euro as improving U.S. economic data bolstered the case for the Federal Reserve to continue tapering stimulus, moving closer to the first interest-rate increase since 2006. A gauge of U.S. dollar strength headed for its highest close this month. Australia��s dollar was near a four-week high before the release of the annual budget today and Chinese data on retail sales and industrial production.

The dollar bought 102.19 yen as of 9:47 a.m. in Tokyo from 102.13 yesterday, after earlier touching 102.23, the most since May 5. It was little changed at $1.3765 per euro, after reaching $1.3745 on May 9, the strongest since April 8. The single currency traded at 140.67 yen from 140.50 in New York.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major peers, was at 1,008.15, after closing at the highest this month at 1,008.35 yesterday.

U.S. retail sales probably increased 0.4 percent in April, according to the median estimate of economists polled by Bloomberg News. They grew 1.2 percent in March, which was the most since August 2012.

Source : Bloomberg