Oil extends losses after API reports huge U.S. crude build

By Jessica Resnick-Ault NEW YORK (Reuters) - Oil prices that tumbled more than 1 percent Tuesday fell further after settlement, pressured by growing crude stockpiles in the United States as evidence of a burgeoning revival in U.S. shale production could complicate efforts by OPEC and other producers to reduce a supply glut. Brent dropped to $54.70 and U.S. crude to $51.75 by 4:39 p.m. Eastern (2139 GMT) in post-settlement trading after weekly data from trade association the American Petroleum In