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Economics

Crude Drops to Three-Week Low as U.S. Growth May Slow

West Texas Intermediate crude fell to the lowest level in almost four weeks before a government report that may show slowing U.S. economic growth.

Futures trimmed a monthly advance that would be the biggest since August. U.S. gross domestic product probably expanded at a 1 percent annualized rate in the second quarter, compared with 1.8 percent in the previous three months, according to a Bloomberg survey before data are released tomorrow. Confidence among U.S. consumers declined more than forecast in July. WTI’s discount to Brent widened to a three-week high.