West Texas Intermediate crude capped the first weekly loss since May 2 as U.S. consumer spending fell in April and rising inventories signaled ample supply. WTI declined for the third time in four days. Household purchases, which account for about 70 percent of the economy, dropped 0.1 percent, the first decrease in a year, the Commerce Department said today. Crude stockpiles climbed 1.66 million barrels to 393 million last week, the Energy Information Administration reported yesterday. Brent slipped as Russia pulled back most of its troops from the border with Ukraine. “The economic data was not really giving us expectations that demand will be strong,” said Phil Flynn, senior market analyst at the Price Futures Group in Chicago . “Supply is pretty ample here. Russia pulled back its troops and that reduced risk premium a little bit.” WTI for July delivery slid 87 cents, or 0.8 percent, to end […]