Oil prices edged up on Thursday, partially recovering from price falls of 2.5 to 4 percent a day earlier as U.S. stockpiles rose for the first time in months on the back of high production. Following a 4.2-percent drop on Wednesday, front-month U.S. crude futures were trading at $57.15 per barrel at 0655 GMT, up 19 cents from their last settlement. Heading into the second half of the year, U.S. crude has been testing support on the lower range of a $57-62 per barrel price channel, where it has been trading since early May. “We … expect this support level to hold,” Singapore-based Phillip Futures said, arguing that this week’s bearish factors had already been priced into the market. Brent crude futures were trading at $62.33 per barrel, up 32 cents after dropping 2.5 percent in the previous session. Yet the contract remains on a downwards trend that […]