Oil edged higher above $73 a barrel in New York as falling stockpiles in the U.S. and China added to bullish sentiment around the global demand recovery. Gasoline inventories in the U.S. unexpectedly fell last week, while nationwide crude supplies dropped for a fifth week, the longest run since January. Chinese stockpiles have also shrunk to the lowest this year, according to data provider Kayrros, with the market tightening as key consumers rebound from Covid-19. Oil could be facing some near-term turbulence, however, with one technical indicator signaling that prices may have climbed too far, too fast. Crude is flirting with overbought territory on the 14-day relative strength index. The recovery has accelerated as vaccinations are rolled out worldwide, boosting fuel consumption and helping to drain stockpiles that were built up during the height of the pandemic. The OPEC+ alliance is scheduled to meet toward the end of next […]