Oil rose the most in almost a week alongside a broader market rally as signs emerged that a recovery in fuel consumption is gaining traction. Futures in New York climbed 2.5% on Thursday. Vehicle miles driven on U.S. highways increased 10% last week from the previous seven days, while U.K. road use has also been climbing. A surge in the margin on refining crude into gasoline could drive an oil rally over the summer, according to RBC Capital Markets. Meanwhile, U.S. equities jumped to an all-time high as a $1.9 trillion pandemic-relief bill was signed into law. “Refined products and particularly gasoline has been leading the most recent charge higher in oil prices,” said Ryan Fitzmaurice, commodities strategist at Rabobank. “On the […]