Oil extended its volatile run as continued US efforts to curb prices and concerns over a global recession counter signs of tight supply. West Texas Intermediate swung between gains and losses, with prices oscillating within a $17 band since late-September. The mixed picture is also showing in the shape of the futures curve — while key timespreads are indicating supply restrains, several gauges have softened to the weakest levels since late September in recent days. Crude has pulled back from its recent highs, with the market remaining caught between the twin forces of production cuts by the Organization of Petroleum Exporting Countries and its allies alongside the looming threat of a major slowdown in global growth. Meanwhile upcoming European Union sanctions on Russian oil exports could send shockwaves through the global tanker market, and have already caused some Indian refiners to halt spot purchases before the latest sanctions take […]