WTI crude dropped 14 percent in July, biggest decline in year U.S. crude, fuel supplies at highest seasonal level in decades Oil fell in New York after U.S. producers increased the number of rigs drilling for crude for a fifth consecutive week, adding to concern a global glut will persist. Futures dropped as much as 0.9 percent, adding to a 14 percent drop in July. Rigs targeting crude in the U.S. rose by 3 to 374, Baker Hughes Inc. said on its website Friday. Libya has reopened the ports of Ras Lanuf, Zuwetina, Es Sidra, Brega, for crude exports, according to statement from the Petroleum Facilities Guard. Oil has slipped 19 percent from an early June high, ending a recovery that saw prices almost double from a 12-year low in February. Supply disruptions from Nigeria to Canada that trimmed a worldwide surplus have abated, while concerns about the strength […]