Oil retreated Friday as analysts reminded the market of high U.S. inventory numbers and the continued oversupply of crude. Light, sweet crude for October delivery settled down $1.29, or 2.8%, to $44.63 a barrel on the New York Mercantile Exchange. The contract fell 3.1% in the week. Brent, the global benchmark, fell 75 cents, or 1.5%, to $48.14 a barrel on ICE Futures Europe, notching a 3% weekly decline. Data from the U.S. Energy Information Administration on Thursday set the stage for a decline. It showed stocks rose 2.6 million barrels in the week to 458 million barrels, higher than the inventory estimate from industry group the American Petroleum Institute earlier in the week. U.S. investment bank Goldman Sachs piled on by lowering its short- and midterm price forecasts for U.S. oil to reflect a higher-than-expected oversupply. The bank had been among the most bearish in the market already […]