West Texas Intermediate’s discount to Brent reached an eight-month high as rising inventories weighed on U.S. futures and limited progress in Iran nuclear negotiations supported the European benchmark. The spread widened to $16.21 from $14.64 yesterday. WTI declined as rising domestic output added to inventories at record highs for this time of year. Brent reached a six-week high as envoys haggled over language in their efforts to ease the standoff over the atomic ambitions of Iran, whose oil exports have been reduced by sanctions. “We have increasing crude oil supplies here in the U.S.,” said John Kilduff , a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy. “WTI is under pressure. The market is very skeptical that a deal is going to be achievable. That’s helping Brent disproportionately.” WTI for January delivery slid 60 cents, or 0.6 percent, to $94.84 a barrel on […]