Oil edged further above $38 a barrel on Thursday before retreating as it remained within sight of an 11-year low reached this week, as traders put positions in order ahead of an expected week of low liquidity ahead. U.S. crude has gained support from falling inventories, reduced drilling and the lifting of a ban on most U.S. crude exports, which has pushed U.S. crude to a premium to global benchmark Brent for the first time in about a year. CL-LCO1=R Brent LCOc1 settled up 53 cents at $37.89 a barrel as of 11:48 a.m. EST. It fell to $35.98, an 11-year low, on Tuesday. U.S. crude CLc1 settled up 60 cents at $38.10 after gaining more than 8 percent this week. “Some traders playing spot on the downside are getting out and calling it a year,” said Tariq Zahir, managing partner at Tyche Capital Advisors. U.S. crude futures have […]