West Texas Intermediate crude fell for a second day amid speculation that China ’s fuel demand will shrink as economic growth slows in the world’s second-biggest oil consumer. Futures dropped as much as 0.7 percent in New York , extending a 0.8 percent loss on Jan. 31. A Purchasing Managers ’ Index was at 50.5 for January, the National Bureau of Statistics and China Federation of Logistics and Purchasing said in Beijing on Feb. 1. That’s the lowest reading in six months, while a separate report on the non-manufacturing sector also signaled a deterioration. Manufacturing data from the U.S. and the euro region are due today. “Oil is joining other commodities in being a bit nervous about softer figures in China,” said Ric Spooner, a chief analyst at CMC Markets in Sydney who predicts investors may buy WTI contracts at about $95 a barrel. “Although the PMI figures were […]