Oil prices spiked in a volatile session Wednesday as weekly data showed U.S. stockpiles fell for the first time this year, but the market gave back much of its gains amid a continued bearish backdrop. U.S. oil inventories fell 3.9 million barrels last week, the first weekly decline since Dec. 26, according to data provided by the U.S. Department of Energy. The decrease sent a surprisingly bullish signal to the market that the monthslong growth in supplies may finally be ebbing, and prices briefly touched a new high for the year. The data showed strong demand for crude from refineries, which ramped up processing rates to produce gasoline in anticipation of the summer driving season set to kick off in a few weeks. The decline in stockpiles stood in contrast to the 1.1 million-barrel increase projected in a […]