West Texas Intermediate traded near the highest price in more than a month after crude inventories shrank for the first time in 11 weeks in the U.S., the world’s biggest oil consumer. Futures fluctuated in New York after gaining 1.2 percent yesterday to cap a four-day advance, the longest rising streak since August. U.S. crude stockpiles fell by 5.59 million barrels last week as refiners boosted processing, data from the Energy Information Administration show. Supplies were forecast to drop 500,000 barrels, according to a Bloomberg News survey. OPEC agreed to maintain its production target at a meeting yesterday. “Oil is holding these levels, which suggest further gains,” said Jonathan Barratt , the chief executive officer of Barratt’s Bulletin in Sydney. “It’s a combination of things: the good economic data and the inventory draws” have pushed futures higher, he said. WTI for January delivery was at $97.36 a barrel in […]