Oil traded near the lowest in almost six years in New York as OPEC’s warning that prices may surge without new investment in production failed to shift the market’s focus from more immediate signs of a global supply glut. Futures fell 0.2 percent in New York, paring an earlier gain of as much as 1.3 percent. A spike to $200 a barrel is possible without adequate spending for the long term, OPEC Secretary-General Abdalla El-Badri said. U.S. crude inventories probably rose to 402.1 million barrels last week, the most in records dating back to August 1982, a Bloomberg News survey shows before a government report on Wednesday. Oil slumped almost 50 percent last year as the U.S. pumped crude at the fastest rate in more than three decades and the Organization of Petroleum Exporting Countries resisted calls to reduce output. Prices may drop to as low as $30 a […]