Oil declined as expanding U.S. crude inventories kept supplies at the highest level in more than eight decades. Futures lost as much as 2.2 percent, erasing a 0.9 percent gain Wednesday. Stockpiles increased for a second week to 507.6 million barrels, the most since 1930, according to an Energy Information Administration report. Prices won’t recover until the second half of 2017 at the earliest, Mexican Energy Minister Pedro Joaquin Coldwell said this week, estimating that the market is oversupplied by about 2 million barrels a day. U.S. crude inventories in thousands of barrels “Crude inventories continue to be at record levels,” Michael Poulsen, an analyst at Global Risk Management Ltd., said in a report. “U.S. refiners are heading into the maintenance season, which could contribute to the increasing stockpiles.” Oil is down about 14 percent this year on speculation a global glut will be prolonged amid brimming U.S. stockpiles […]