Oil prices retreated Thursday after receiving another blow from stockpile data showing no pause in the flood of excess oil. Data provider Genscape Inc. said Thursday that stockpiles at Cushing, Okla., the delivery point for the benchmark U.S. futures contract, rose by nearly 1.4 million barrels in the week ended Tuesday, with nearly all of that coming in the last half of that week, according a person who had reviewed the report. The news came just a day after government data showed a surprise addition for stockpiles last week, mounting evidence the global glut of crude isn’t easing. “The overall inventory situation is really pretty bleak. And this doesn’t help,” said Peter Donovan, broker for Liquidity Energy in New York. Light, sweet crude for January delivery fell 57 cents, or 1.6%, to $34.95 a barrel on the New York Mercantile Exchange, the lowest settlement since February 2009. Brent, the […]