[Editor’s note: This story was updated from a previous version posted at 7:45 a.m. CT March 9.]Oil fell about 2% on March 9, extending the previous session’s slump to prices not seen since an OPEC-led pact to cut production was agreed, as record U.S. crude inventories fed doubts about the effectiveness of the deal to curb a global glut.U.S. West Texas Intermediate (WTI) crude prices fell through the $50 a barrel (bbl) support level, with market participants unwinding some of the massive number of bullish wagers they had amassed after the deal.The losses followed March 8’s slide of more than 5%, the steepest in a year, after data showed crude stocks in the U.S., the world’s top oil consumer, swelled by 8.2 MMbbl last week to a record 528.4 MMbbl.
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