Oil pared gains with technical indicators showing the commodity is overbought, while traders assessed depleting U.S. stockpiles. Futures in New York closed 0.3% higher on Wednesday with West Texas Intermediate’s 14-day Relative Strength Index clinging near 70, a level that signals oil is due for a pullback. Meanwhile, a U.S. government report earlier showed crude supplies, gasoline inventories and stockpiles at the nation’s largest storage hub at Cushing, Oklahoma, all tumbled last week, reinforcing the expectation of limited supply during the summer driving season. Supply declines in the U.S. are the latest sign of a tightening global crude market as fuel demand bounces back from the pandemic. Stalled nuclear talks have also deferred the prospect of renewed Iranian supplies, keeping benchmark crude prices supported. However, OPEC+ is scheduled to meet next week to discuss its production […]