Oil prices slid Tuesday on expectations that U.S. crude stockpiles hit another record high last week. Light, sweet oil for April delivery fell $1.71, or 3.4%, to $48.29 a barrel on the New York Mercantile Exchange, the lowest settlement since Feb. 26. Brent, the global benchmark, settled down $2.14, or 3.7%, at $56.39 a barrel on ICE Futures Europe, the lowest level since Feb. 11. The U.S. Energy Information Administration will release its inventory data for the week ended March 6 on Wednesday. Analysts surveyed by The Wall Street Journal expect that crude supplies rose by 4.8 million barrels in the week. Crude stocks are already at their highest level in about 80 years. The analysts also expect the EIA to report that gasoline supplies fell by 1.7 million barrels, while stocks of distillates, including heating oil and diesel, fell by 2.3 million barrels. The American Petroleum Institute, an […]