West Texas Intermediate headed for the third weekly decline this month amid speculation that rising U.S. gasoline stockpiles signal reduced demand in the world’s biggest oil consumer. Brent was steady in London . Futures were little changed in New York after falling 1 percent yesterday. Gasoline inventories climbed to the highest level since March, while crude supplies dropped for a fourth week, Energy Information Administration data showed on July 23. President Barack Obama said he expects the downing of the Malaysian Air jet in Ukraine to push European nations toward tougher sanctions against Russia . “U.S. refineries are clearly turning more crude oil into refined petroleum products at present than is actually needed,” Carsten Fritsch , an analyst at Commerzbank AG in Frankfurt , said by e-mail. “The build in gasoline inventories significantly exceeded expectations. Besides the increase in production, this was also due to weaker demand.” WTI for […]