Oil was up about 6 percent on Thursday as rising violence in producing country Libya and an expected boost in oil demand from a central bank easing in China helped crude rebound from one of its sharpest daily routs ever in the previous session. Traders and analysts said they expect higher-than-usual volatility in coming days as the market tries to find a bottom to a seven-month selloff that took prices to near six-year lows. But many were pessimistic about the market making a sustained rally, with record-high U.S. crude inventories rekindling renewed worries about a supply glut. “It is just a changing market sentiment as more and more players are starting to believe production cuts are coming in the U.S. and that will be enough to erase the surplus,” Dominick Chirichella, senior partner at the Energy Management Institute, New York, said on the Reuters Global […]