West Texas Intermediate swung between gains and losses near a four-month low as an increase in China ’s manufacturing index countered concern about rising crude supplies in the U.S., the world’s biggest oil consumer. Futures fluctuated in New York after capping a 5.8 percent drop in October, the most in a year. China’s Purchasing Manager’s Index (CPMINDX) was 51.4, the highest in 18 months and more than the median estimate of 51.2 in a Bloomberg News survey of economists. A separate manufacturing indicator also climbed. Prices are poised for a fourth weekly decline amid an expansion in U.S. crude stockpiles . “The numbers over the past month for China have all been good but they’ve failed to hold up oil,” said Jonathan Barratt , the chief executive officer of Barratt’s Bulletin in Sydney. “Inventories keep building; there’s just too much oil.” WTI for December delivery was at $96.51 a […]