Oil traded near the lowest price in almost six years in New York after U.S. crude stockpiles climbed to the highest level since at least 1982. West Texas Intermediate futures were little changed following Wednesday’s 3.9 percent drop. Crude inventories in the U.S., the world’s biggest oil consumer, expanded by 8.87 million barrels to 406.7 million last week, the Energy Information Administration reported. Royal Dutch Shell Plc said it will cut $15 billion of spending over the next three years. “The huge build in U.S. crude-oil stocks reported by the EIA yesterday brought stockpiles to an all-time high and weighed on prices,” Michael Poulsen, an analyst at Global Risk Management Ltd. in Middelfart, Denmark, said by e-mail. West Texas Intermediate for March delivery was at $44.53 a barrel in electronic trading on the New York Mercantile Exchange, up 8 cents, at 11:02 a.m. London time. The contract […]