| U.S. oil briefly reached some of its highest prices of the year Thursday as Canadian wildfires threatened a major oil producer, but the rally faded throughout the day with traders still confident of heavy stockpiles.
U.S. oil breached $46 a barrel for only the fourth time in 2016 and the day’s gains have rivaled some of the largest in the last month. The jolt helped revive a rally that has brought oil’s sharpest gains in years, but analysts and traders kept up their warnings of oversupply that has tugged that rally back throughout the week...............................................Full Article: Source
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