West Texas Intermediate crude headed toward $100 a barrel for the first time since May amid signs that Libyan output is continuing to increase. Brent crude traded near the lowest price in three months. Futures declined as much as 0.6 percent in New York, after capping a 3.1 percent decrease last week. Production from Libya, the holder of Africa ’s biggest crude reserves, climbed to 470,000 barrels a day, state-run National Oil Corp. said yesterday. Exports from Iraq , OPEC’s second-largest producer, remain undiminished by an insurgency that flared last month. “Oil supply in Iraq remains unaffected, Libya is returning, which means the supply risks are receding,” Carsten Fritsch , an analyst at Commerzbank AG in Frankfurt , said by e-mail. “It seems that speculators are leaving the market and exacerbating the downtrend. But the supply risks are not gone for good, so the downside is rather limited from […]