It is nearly turnaround season, though not necessarily for your favorite baseball team. The greatest late-season surge in a quarter century is already in the books for the oil market. Through Monday, crude had its best three-day percentage gain since Iraq’s invasion of Kuwait in August 1990. The rebound was attributed to investors covering negative bets in the futures market following a six-and-a-half year trough and an easing of deep pessimism about China and the global economy. Oil futures gave back a chunk of those gains on Tuesday , though, after China’s official purchasing managers index fell to its lowest in three years and a similar one in the U.S. dropped to a two-year low . A final support to a bullish crude-oil thesis may crumble after U.S. government data on petroleum and product inventories are released Wednesday. Last week’s report showed that U.S. crude inventories declined by the […]