Oil prices hit a high for the year Thursday on continued expectations that U.S. oil production will peak soon and then begin to ease the global glut of crude. The Organization of the Petroleum Exporting Countries forecast in a monthly report Thursday that U.S. output of crude oil and natural-gas liquids would start to decline in the third quarter. The report came after U.S. government data released Wednesday showed the second drop in weekly oil production in three weeks. Light, sweet crude for May delivery settled up 32 cents, or 0.6%, to $56.71 a barrel on the New York Mercantile Exchange, the highest settlement since Dec. 23. Brent, the global benchmark, rose 66 cents, or 1%, to $63.98 a barrel on ICE Futures Europe, the highest level since Dec. 10. Both contracts rose for a sixth straight session. Traders have been waiting for signs of a decline in […]