Oil fell

West Texas Intermediate crude fell for the third time in four days as the U.S. debated a military strike on Syria and Russia raised objections to intervention, clouding the prospects for an attack.

Futures dropped as much as 1.4 percent. The Senate Foreign Relations Committee is scheduled to vote on a use-of-force resolution today. The international community’s credibility is on the line after Syria used chemical weapons against civilians, U.S. President Barack Obama said at a news conference today in Stockholm, repeating a claim that the Syrian government has denied. The Senate committee is considering a resolution that would give Obama a limited window in which to conduct a military operation. The draft legislation supports the use of force in a “limited and tailored manner against legitimate military targets” during a 60-day period following enactment, with a possible 30-day extension at Obama’s request. It explicitly doesn’t authorize use of ground troops in combat.

Russian President Vladimir Putin said the U.S. Congress has no right to approve military action against Syria.

WTI for October delivery dropped $1.22, or 1.1 percent, to $107.32 a barrel at 9:48 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 13 percent below the 100-day average.

Brent for October settlement slid $1, or 0.9 percent, to $114.68 a barrel on the London-based ICE Futures Europe exchange. The volume of all futures traded was 23 percent above the 100-day average. Brent’s premium to WTI widened to $7.36 a barrel from $7.14 yesterday.