Oil fell from the highest level in seven years as China unleashed measures aimed at stabilizing its power supplies for the winter, while a U.S. industry report pointed to an increase in crude stockpiles. Futures in New York fell toward $82 a barrel amid a broader drop in raw materials including aluminum and copper. China is studying ways to intervene in the coal market to ensure reasonable prices, while the nation’s energy watchdog hosted a Tuesday meeting with refiners after oil prices soared. The American Petroleum Institute reported crude inventories rose by 3.29 million barrels last week, according to people familiar. That would be a fourth weekly gain if confirmed by official government data later Wednesday. Oil has rallied to the highest level since 2014 as an energy crunch — prompted by coal and natural gas shortages — coincided with rebounding demand from economies recovering from the pandemic. Russia […]