West Texas Intermediate declined for the first time in four days after an industry report showed fuel inventories rose in the U.S., the world’s biggest oil consumer. Brent crude fell from the highest close since April.
West Texas Intermediate swung between gains and losses near the highest price in a week before data that may show U.S. crude stockpiles shrank. OPEC will probably keep its output quota unchanged this week.
China International United Petroleum & Chemical Corp ., the nation’s largest oil trader, will halt imports of diesel this month, according to a company official with knowledge of the plans, as a domestic shortage eases.
West Texas Intermediate declined after its biggest advance in two weeks as Euro-area services and manufacturing contracted and Cyprus’s president worked on a new plan to secure a financial bailout from the euro area.