Oil inched lower on limited fresh signs of escalating conflict in the Middle East, but prices hovered above monthly lows as technical support limited losses. West Texas Intermediate’s most active June contract settled near $83 a barrel after plunging 1.9% earlier, as the 50-day moving average provided some support. Still, with the US Congress moving to sanction Iran’s oil sector and the conflict between Israel and Iran remaining tense, prices may continue to see sharp swings. Last week, crude posted the biggest weekly drop since February. “Buyers are waiting to see if crude will hold its 50-day moving average before ... (full story)