West Texas Intermediate crude fell from the highest level of 2014 on concern that developing economies may shrink. The U.S. benchmark grade’s discount to Brent oil narrowed to the least in more than three months. Futures dropped 0.8 percent. Emerging-market currencies weakened this week as Chinese growth slowed and the Federal Reserve further cut stimulus. About $1.8 trillion has been erased from the value of equities worldwide in January. The WTI-Brent spread slipped as cold weather in the eastern U.S. bolstered the relative value of the U.S. grade. “We’re seeing a bit more correlation between oil and the global markets,” said Rob Haworth, a senior investment strategist in Seattle at U.S. Bank Wealth Management, which oversees about $110 billion of assets. “Some of the concern about emerging markets is bleeding into crude.” WTI for March delivery fell 74 cents to settle at $97.49 a barrel on the New York […]