Oil rose for a second day after the U.S. reported the biggest crude stockpile drop since September while the dollar slipped. Futures in New York gained 2.1% on Thursday in a thinly traded session as a weaker dollar helped bolster the appeal of commodities. The U.S. Energy Department on Wednesday reported a 4.58 million-barrel slump in crude inventories, a bullish signal to investors which may quell previous demand outlook concerns. “We still have a bid in the market from yesterday’s EIA report, which deserves a lot of love,” said Bob Yawger, director of the futures division at Mizuho Securities USA . The report alone gives markets a reason from trading sharply downwards in the upcoming days, he added. Conflicting signals on demand and supply have seen oil swing between gains and losses this week. While the outlook for consumption appears to be deteriorating as China, the biggest oil importer, […]