Oil Falls a Third Day as Stockpile Gain Signals Slowing Economy

Oil fell for a third day in New York as U.S. fuel stockpiles rose more than forecast, adding to signs of slowing economic growth in the world’s biggest crude consumer.

Oil has slumped 5 percent in the past three days after the Energy Department said gasoline supplies climbed, reaching the highest level for the weekly reporting period in at least 10 years. Distillate stockpiles increased to the highest since January 1983. The U.S.’s June trade deficit unexpectedly widened and China’s industrial output grew by the least in 11 months.