Oil futures were volatile on Thursday with U.S. oil prices hovering near six-year lows as the global oil glut that has pummeled prices since midsummer showed no signs of abating. The U.S. reported record high oil supplies and the dollar continued to strengthen after the Federal Reserve’s meeting on Wednesday, further weighing on dollar-denominated commodities such as oil. On the New York Mercantile Exchange, March-dated WTI, the U.S. price benchmark, traded down 0.1% at $44.40 a barrel after settling at its lowest level since March 2009 on Wednesday. On London’s ICE Futures Exchange, Brent, the global marker, rose 0.3% to $48.65 a barrel Data from the U.S. Energy Department showed the country’s oil stockpiles rose by a more-than-expected 8.9 million barrels in the week ended Jan. 23. The stockpiles are now near 407 million barrels, an […]