Oil fell for the fourth time in five days

West Texas Intermediate crude fell for the fourth time in five days as Libya’s oil production increased and President Bashar al-Assad said Syria will make available information about its chemical weapons.

Prices dropped as much as 0.5 percent. Output will rise following the reopening of two oil fields, according to Libya’s Oil Ministry. Syria will open sensitive facilities to international inspectors, Assad said in a televised interview. WTI jumped 2.5 percent yesterday as the Federal Reserve maintained monthly bond purchases to stimulate economic growth.

Crude rose earlier as U.S. jobless claims increased less than forecast last week. Applications for unemployment benefits climbed to 309,000, the Labor Department reported. Economists called for an increase to 330,000.

WTI for October delivery, which expires tomorrow, slid 28 cents, or 0.3 percent, to $107.79 a barrel at 9:55 a.m. on the New York Mercantile Exchange. It surged 2.5 percent yesterday, the biggest increase since Aug. 27. The volume of all futures traded was 2.4 percent above the 100-day average. The more active November contract was down 39 cents at $106.89.

Brent for November settlement slid 81 cents, or 0.7 percent, to $109.79 a barrel on the London-based ICE Futures Europe exchange. Volume was 20 percent above 100-day average. The European benchmark crude was at a premium of $2.89 to WTI for the same month, down from yesterday’s $3.32.