The price of Brent crude rose above $50 a barrel on Thursday, as declines in U.S. crude stocks boosted the price of a commodity that is suffering from a two-year long supply glut. Oil prices have struggled to climb much higher than $45 for most of the year. But after moving above $50 on Thursday, Brent, the international benchmark, struggled to gain further ground and dipped back below that key level several times, underscoring how many investors believe the sector’s oversupply is far from over. Its U.S. equivalent, West Texas Intermediate hovered just underneath $50 a barrel. Brent, was trading at $50.02 a barrel, up 0.6% while WTI was trading up 0.6% at $49.85 a barrel. Bjarne Schieldrop, chief commodities analyst at SEB Markets, said that as long as oil stayed below $50 his […]