Oil’s red-hot rally took a breather as a stronger dollar and rising refined products supplies offset shrinking U.S. crude inventories, capping the price under a key technical indicator. Futures in New York ended a sixth-day winning streak with a 0.6% decline on Wednesday, holding beneath their upper Bollinger band. Crude settled the previous session above the technical indicator, a sign the rally was due for a pullback. While an Energy Information Administration report showed U.S. crude inventories fell by over 3 million barrels last week for a fifth drop in a row, the report also showed builds across gasoline and distillate stockpiles. Adding further pressure, the Bloomberg Dollar Spot Index strengthened as much as 0.3% on Wednesday, reducing the appeal for commodities priced in the greenback. “It’s […]