West Texas Intermediate halted an advance near a three-week high amid speculation China ’s fuel demand will slow after a manufacturing index unexpectedly contracted. Futures were little changed in New York after rising for a third day to close at the highest level since Dec. 31. A preliminary Purchasing Managers ’ Index in China, the world’s second-biggest oil consumer, declined more than estimated in January to the lowest level in six months, according to a private gauge. Crude stockpiles in the U.S. probably increased last week as refiners reduced processing, a Bloomberg News survey shows before data from the Energy Information Administration today. “A weaker PMI will translate to slowing China oil demand,” said Gordon Kwan , the regional head of oil and gas research at Nomura Holdings Inc. in Hong Kong . “Expect oil prices to drift much lower after the ‘U.S. Arctic Express’ cold weather departure.” WTI […]