West Texas Intermediate headed for a third weekly drop as supply risks ease in Iraq and Libya while crude inventories expand where U.S. crude is stored. Brent declined in London . Futures slid as much as 0.5 percent in New York and are poised for the longest run of declines since November. Libya’s supply gained as the Sharara field resumed production and two oil-export terminals reopened. Fighting in Iraq, the second-largest OPEC member, hasn’t spread to the country’s south, home to three-quarters of its output. Crude stockpiles at Cushing, Oklahoma, rose the most since January, the Energy Information Administration reported on July 9. “Recent news that Libya will resume the export from two major terminals have removed parts of the risk premium ,” Thina Saltvedt, an analyst at Oslo-based Nordea Markets, said by e-mail. “And no news that the fighting in Iraq is spreading to the southern oil rich areas […]