Nationwide supplies gained 897,000 barrels last week: API Crude prices to climb to new highs in coming months: Andurand Oil traded below $50 a barrel in New York amid conflicting signs on whether U.S. crude stockpiles are retreating. Futures were little changed, having fallen to a three-week low on April 24. The industry-funded American Petroleum Institute was said to report U.S. crude supplies increased by 897,000 barrels last week. Meanwhile, a Bloomberg survey forecasts stockpiles probably fell by 1.75 million barrels before an Energy Information Administration report Wednesday. Oil’s rally faltered last week amid concern rising U.S. output will offset efforts by the Organization of Petroleum Exporting Countries and its allies to trim a global glut. While OPEC members mull an extension of the six-month deal past June, American drillers targeting crude continue to add rigs to shale fields. The “latest API report on U.S. petroleum stocks was filled […]