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WTI Drops a Third Day as U.S. Crude Supplies Seen Rising

West Texas Intermediate traded near its lowest closing level in three days amid signs of expanding U.S. supplies and as the International Energy Agency trimmed demand estimates for OPEC’s crude.

WTI fluctuated after losing 0.4 percent yesterday to settle at its lowest price since June 6. U.S. Energy Department data today may show crude inventories in the world’s largest oil-consuming nation dropped 1.5 million barrels last week, according to a Bloomberg News survey. The IEA trimmed forecasts for the amount of oil OPEC needs to supply in the second half of the year on signs of slower Chinese growth.