U.S. supplies likely fell by 3.25 million barrels last week Saudi-Qatar dispute seen having limited impact on crude supply Oil rose as U.S. crude stockpiles are seen falling for a ninth week, ahead of the release of industry-funded data on inventories. Futures climbed 1.7 percent in New York after declining as much as 1 percent during the session. A Bloomberg survey found that U.S. crude inventories probably dropped last week, creating impetus for higher prices. Contango, the market structure where the near-term contract trades at a discount to those for expiration later, narrowed between the July and August West Texas Intermediate crude contracts, lending to bullish sentiment. Meanwhile, Kuwait’s Oil Minister Issam Almarzooq told official news agency KUNA that Qatar is committed to the global oil-cuts deal, with a compliance rate of 93 percent to 102 percent. This comes as efforts are under way to resolve a clash between […]