WTI Crude Falls Second Day on U.S. Supplies While Brent Advances
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West Texas Intermediate fell, extending a second monthly loss, as an increase in U.S. crude stockpiles signaled ebbing demand in the world’s biggest oil consumer.
Futures slid as much as 1.1 percent in New York after the industry-funded American Petroleum Institute said inventories rose last week by 5.9 million barrels. A separate report to be issued today by the U.S. Energy Information Administration is expected to show supplies climbed by 2.4 million barrels to 382.2 million, the highest level in four months, according to a Bloomberg News survey of analysts. Brent gained amid output losses in Libya, holder of Africa’s largest reserves.