Oil retreated from the highest close in five months amid signs a global glut will be prolonged as Middle East producers boost supplies. Futures fell more than 1.5 percent in New York and London. Saudi Arabian Oil Co. will complete an expansion of its Shaybah oil field by the end of May, allowing the world’s largest exporter to maintain total capacity at 12 million barrels a day, according to two people with knowledge of the plan. Iran has increased output by 1 million barrels a […]