Oil prices fell close to three-month lows on Wednesday after U.S. industry data showed weekly oil stocks declined by less than expected, feeding into concerns over persistent oversupply dragging down prices. Global benchmark Brent crude LCOc1 was on track for the first monthly loss since January and the largest of 2016. Futures traded down 49 cents at $44.38 a barrel at 0914 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 was trading down 26 cents at $42.66 a barrel, close to a three-month low of $42.36 reached on Tuesday. “Today’s weakness is just part of the general belief that the market is oversupplied,” said Tamas Varga, oil analyst at London brokerage PVM Oil Associates. Weekly industry data from the American Petroleum Institute (API) late on Tuesday showed that U.S. […]