Oil prices were a touch higher on Thursday following heavy losses in the previous session as U.S. supplies continued to add to the global oil glut. Data on Wednesday showed that U.S. crude supplies had climbed to their highest level in 80 years sending oil prices down by almost 9% for the day. On Thursday, Brent crude rose 0.4% to $54.41 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, light, sweet crude futures traded at $48.64 a barrel, up $0.20 from Wednesday’s settlement. Oil futures had surged 19% within a span of four trading sessions since late last week, raising hopes among oil market bulls that prices have bottomed. But on Wednesday U.S. weekly oil stockpiles rose more than expected, by 6.3 million barrels, and are currently at the highest level for this time of year in at […]