Brent crude in London advanced, widening its premium over West Texas Intermediate to the highest in almost 3 months as swelling stockpiles weigh on U.S. prices. Futures for April in London were 0.9 percent higher on the day of the contract’s expiry, while WTI in New York slipped 0.2 percent. The number of active U.S. oil rigs fell by 13 to 400, the lowest since December 2009, according to Baker Hughes Inc. The nation’s stockpiles have risen to the highest in more than eight decades. Brent oil is down 5 percent this year on speculation a worldwide surplus will be prolonged amid increased exports from Iran. A proposal to freeze output by Saudi Arabia and Russia is achievable and prices my rise to as high as $50 a barrel by the end of the year, Nigerian Minister of State for Petroleum Resources Emmanuel Ibe Kachikwu told CNBC. “Oil has […]