Oil snapped a run of declines as a U.S. industry report pointed to a drop in domestic crude stockpiles. West Texas Intermediate rose 0.5% after a four-day losing run that was the longest since March. The American Petroleum Institute reported that crude inventories fell 1.16 million barrels last week, including a draw at the key storage hub in Cushing, Oklahoma, according to people familiar with the data. The dollar also weakened, making commodities priced in the currency more attractive. Crude’s rally had been knocked off course in recent weeks, after surging in the first half of the year as vaccination programs and economic activity gained traction. Now data from the U.S. and China suggesting the recovery may be faltering as the spread of the delta coronavirus variant threatens demand. Since closing in mid-July at the highest since 2018, the U.S. oil benchmark has shed more than 10%, with banks […]