West Texas Intermediate crude fell to the lowest level in three months on estimates that crude stockpiles climbed in the U.S., the world’s biggest oil-consuming country.
Prices dropped as much as 2.1 percent. The Energy Information Administration will probably say today that supplies climbed by 3 million barrels last week in a fifth consecutive increase, according to a Bloomberg survey. The industry-funded American Petroleum Institute reported a 3 million-barrel gain yesterday. WTI’s discount to Brent widened to a six-month high.
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