Oil prices were lower Thursday as traders took profits. Photo: Associated Press Oil prices slumped Thursday, the biggest drop in a month, as traders reassessed the market following a strong rally a day earlier and the dollar’s appreciation. Prices had jumped to a near-five-month high Wednesday after weekly U.S. inventory data showed that crude-oil stockpiles fell from record highs. The data confirmed expectations that the glut of crude oil in the U.S. is set to shrink due to lower spending on exploration and production following last year’s plunge in prices. But stockpiles remain near the highest level in more than 80 years, and production is holding near multi-decade highs. “There’s some general concern that oil prices have run up pretty quickly from the lows here,” said Brian Hicks, a portfolio manager for U.S. Global Investors Inc. GROW -1.15 % […]