Oil futures fell for the fist time in a week as uncertainty over an economic recovery in the U.S. that could boost fuel consumption offset signals of tightening global supply. Investors are awaiting an employment report out of the U.S. on Friday, with forecasts pointing to a slowdown in job gains last month, or worse. Meanwhile, Iraq will cut production in August by an additional 400,000 barrels a day to compensate for missing its production target in previous months, the state oil-marketing organization Somo said. “There’s a dialogue developing here that the jobs report could show no job creation, it could be a negative number,” said Bob Yawger, director of the futures division at Mizuho Securities USA. “And if that’s the case, that’s a horrible demand indicator for crude oil.” In what may be the last remaining hope for spurring U.S. demand in the waning days of the summer […]