West Texas Intermediate swung between gains and losses as prices headed for the biggest weekly decline in four months, amid speculation that record U.S. crude production will further bolster stockpiles. Futures were little changed in New York after snapping a three-day losing streak yesterday. The U.S. pumped oil at the fastest rate since 1989, while stockpiles rose to the highest level since June, government data showed this week. Saudi Arabia , the world’s largest crude exporter, is reducing shipments in response to a possible year-end surplus in supply, according to a tanker tracker. “If stockpiles are high and trending higher, that’s going to be a concern for WTI,” said David Lennox , a resource analyst at Fat Prophets in Sydney. “There’s also a surge in U.S. domestic supply.” WTI for December delivery was at $97.10 a barrel in electronic trading on the New York Mercantile Exchange , down 1 […]