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Oil Set for Biggest Quarterly Drop Since 2012 on Adequate Supply

Brent and West Texas Intermediate headed for the biggest quarterly decline in more than two years as abundant crude supplies offset the risk of disruption from conflict in the Middle East.

Futures were up 0.1 percent in London, trimming a drop of 13 percent since the beginning of July. The U.S. and its European and Arab allies have conducted thousands of air missions since starting a bombing campaign to counter Islamic State militants in Syria and Iraq, OPEC’s second-largest producer. U.S. crude stockpiles probably expanded by 1.5 million barrels last week, a Bloomberg News survey showed before an Energy Information Administration report tomorrow.