West Texas Intermediate crude dropped for a second day on speculation that near-record U.S. crude inventories will be ample to meet demand from refineries. Brent also declined. WTI fell 0.3 percent. U.S. oil supplies slipped 1.78 million barrels from a record 399.4 million last week, the Energy Information Administration said May 7. Futures climbed earlier today as Russian President Vladimir Putin visited Crimea for the first time since annexing the peninsula from Ukraine and the European Union considered expanding sanctions on his country. “The fundamentals are reasserting themselves as the week comes to an end,” said Gene McGillian , an analyst and broker at Tradition Energy in Stamford , Connecticut . “Even though there was a supply drop last week, they remain close to 400 million barrels, which is more than ample.” WTI for June delivery decreased 27 cents to settle at $99.99 a barrel on the New York […]