Oil prices rebounded on Thursday after tumbling more than 6% in the previous session, underscoring the volatility of the market as investors weigh signs of improving demand against a continuing global oversupply of crude. Brent crude, the global price benchmark, rose 2% to $56.68 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, light, sweet crude futures for delivery in May were up 1.9% at $51.38 a barrel. U.S. oil stockpiles rose more than expected last week and hit a fresh 80-year record, the U.S. Energy Information Administration said on Wednesday. Oil production also increased over the week. “U.S. stocks of crude oil are now 20% above last year’s high and show no signs of peaking,” said Thomas Pugh, an oil analyst at Capital Economics. Some analysts, however, say that the inventory increases are set to slow on the […]