Big banks have slightly raised their oil-price forecasts for the first time since August but remain cautious about crude’s outlook. A survey of 13 investment banks by The Wall Street Journal shows their average forecast increased by a dollar from the previous month, while U.S. crude prices have rallied by nearly 50% since their February lows. The banks see Brent crude, the international oil-price benchmark, averaging $40 a barrel this year, and West Texas Intermediate, the U.S. oil gauge, averaging $39 a barrel. On Thursday, Brent was trading up 0.4% at $40.21 a barrel while WTI was changing hands at $38.24 a barrel, down 0.2% from the previous settlement. A pumpjack at an oil well in North Dakota, U.S. Morgan Stanley expects U.S. gasoline… The recent rally has been fueled by optimism that the global glut of crude, which has battered prices since 2014, will start to abate this […]