West Texas Intermediate crude retreated from the highest price since October after a Chinese manufacturing index declined to a seven-month low, signaling demand may slow from the world’s second-biggest oil consumer. Futures for April, the most-active contract, dropped as much as 0.4 percent in New York. The preliminary February reading of 48.3 for a Purchasing Managers’ Index in China released today by HSBC Holdings Plc and Markit Economics compares with 49.5, January’s final figure and the median estimate in a Bloomberg News survey. A technical indicator shows WTI’s 3 percent gain since Feb. 14 may have been excessive. “The poor Chinese manufacturing PMI data triggered further concerns over a slowdown in the oil demand from China,” Myrto Sokou, senior analyst at Sucden Financial Ltd. in London , said in an e-mail. WTI for April delivery slid as much as 39 cents to $102.45 a barrel in electronic trading on […]