Oil headed for a third weekly drop, its longest losing run this year, on concern that a potential recession will cut into energy demand. West Texas Intermediate fell toward $105 a barrel after tumbling on Thursday as commodities were pummeled. The US benchmark has shed more than 2% this week despite signs that the physical crude market remains tight. India on Friday increased levies on exports of gasoline and diesel as part of a drive to control a fast-widening currency deficit. The nation has become an important destination for Russian crude this year as other nations shun flows because of the war in Ukraine. The new levies may crimp product exports. Oil fell about 8% in June as investors fretted over a potential global slowdown, eroding a rally spurred by the war in Ukraine, interruptions to supplies and rising demand. The jump in prices alarmed President Joe […]