Brent Falls to 13-Month Low on Slow Growth; WTI Drops

Brent oil slumped to a 13-month low and West Texas Intermediate settled at the lowest level since February as the euro bloc’s economic recovery stalled amid signs of ample global supply.

Futures dropped 2.2 percent in London and 2.1 percent in New York. Euro-area gross domestic product in the three months through June was unchanged from the first quarter, according to the European Union’s statistics office. Libya said it will reopen its largest oil export port within days and U.S. crude supplies rose for the first time in seven weeks. Gasoline fell to a six-week low and diesel to the lowest in more than a year.