Oil extended its recent skid as US crude inventories swelled to the highest since June the Federal Reserve signaled fresh concerns about inflation. West Texas Intermediate settled at $79 a barrel, the lowest closing price since mid-March. Prices also broke beneath the 200-day moving average, which had served as a support level for more than a month. A report from the Energy Information Administration showed US crude stockpiles increased 7.27 million barrels last week, the biggest jump since early February and more than the 4.91 million-barrel gain projected by an industry group on Tuesday. That adds to headwinds that ... (full story)