U.S. supply rise seen as risk factor in market rebalance: IEA Dollar strength diminishing appeal of oil as value refuge Crude dropped the most in more than two weeks as the International Energy Agency warned about seemingly unstoppable U.S. shale production. Futures in New York fell 1.4 percent on Tuesday after IEA Executive Director Fatih Birol said “explosive growth” in U.S. output may extend beyond this year. Investors were also bracing for a government tally on Wednesday that’s expected to show American crude inventories rose to the highest since 2017. A strengthening greenback further eroded the appeal of dollar-priced commodities. “The comments from the IEA head about the pace of U.S. shale growth might have taken the wind out of the bull’s sails,” said John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund. Heftier stockpiles and a slide in refiner demand “should end up being […]