Oil prices rallied from sharp losses on Thursday but brokers said the downtrend could resume soon as record-high stocks and worries over slowing economic growth dampened sentiment. Brent crude oil was up 50 cents at $46.76 a barrel by 0745 GMT (03:45 a.m. EDT). U.S. crude was up 60 cents at $45.35. “The oil market is oversupplied, OPEC production is on the rise and we had a rather bearish weekly U.S. oil stats report,” said Tamas Varga at London brokerage PVM Oil Associates. Crude stocks in the United States fell less than expected last week, while distillate inventories rose the most since January and gasoline stocks unexpectedly increased, the Energy Information Administration (EIA) said on Wednesday. A bearish assessment of the oil market by the […]