Oil was swept along by volatility in Chinese markets, rallying from a 12-year low as the country sought to quell losses in equities and stabilize its currency. Futures rose as much as 3.2 percent in New York after China suspended a controversial equity circuit breaker system and its central bank set the yuan’s reference rate little changed after an eight-day stretch of weaker fixings. Crude slid Thursday to the lowest since December 2003 as market turbulence reverberated across the globe amid concern over economic growth in the world’s biggest energy consumer. While the turmoil in China has contributed to oil’s slide this year, prices are also being weighed down by U.S. stockpiles that remain about 100 million barrels above the five-year average. Analysts from Nomura Holdings Inc. to UBS Group AG predict crude may fall to near $30 while the Organization of Petroleum Exporting Countries has effectively abandoned output […]