WTI Crude Drops as U.S. Oil Stockpiles Gain
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West Texas Intermediate fell for the second time in three days after data showed U.S. crude stockpiles rose the most in four weeks and a government order prevented the restart of a pipeline to the Texas Gulf Coast.
Futures slid as much as 0.7 percent in New York. Crude inventories climbed 4.7 million barrels last week, the most since March 1, according to the American Petroleum Institute. Government data today may show supplies rose 2.1 million barrels. Exxon Mobil Corp.’s Pegasus pipeline, which runs from the Midwest to Texas refineries, will stay shut until regulators are satisfied with repairs. The main rebel group in Nigeria’s oil-rich Niger River delta said it will resume assaults.