Oil rebounded after a U.S. government report showed rapidly declining inventories and record-high fuel demand in the midst of the peak summer driving season. Futures edged higher after earlier falling as much as 2% in New York on Thursday. Domestic crude and gasoline supplies tumbled last week and a gauge of fuel demand jumped to 10 million barrels a day during the week leading up to the July 4th holiday , according to the Energy Information Administration. “Clearly in the U.S., we’re seeing a strong recovery in demand,” said Quinn Kiley, a portfolio manager at Tortoise, a firm that markets roughly $8 billion in energy-related assets. “It’s a bullish setup.” Oil prices rose 11% last month before volatile trading this week in the wake of the OPEC+ impasse. Global supplies have tightened amid strong recoveries in economies such as the U.S. and China, leading to calls for the alliance […]