WTI trades near 4-month low on weak fuel demand in U.S.

West Texas Intermediate oil swung between gains and losses on Thursday, trading close to a four-month low as demand for fuel in the U.S. shrank and production jumped to the highest level in 20 years. WTI for next month delivery was traded 18 cents higher at $86.86 a barrel on the NYMEX following a drop by $1.07 to $85.61 earlier on the session.