West Texas Intermediate retreated from the highest price in a month after an industry report showed crude inventories increased in the U.S., the world’s biggest oil consumer. Brent slipped after the Libyan government said it was working to resume exports from two ports handed over by rebels. Futures slid as much as 0.5 percent in New York after the American Petroleum Institute said crude stockpiles expanded by 7.08 million barrels last week. Government data today will probably show a 750,000 barrel gain, according to a Bloomberg News survey. Rebels in Libya said they will not backtrack on the handover of two oil ports to the government, while they are standing by a demand for a share of oil revenue before they surrender a further two export terminals. “Comfortable fundamentals, with slack demand and plentiful supply, are weighing on the market,” Andrey Kryuchenkov , an analyst at VTB Capital in […]