Oil prices made a sharp reversal in Friday trading as market fundamentals moved to overshadow short-term reactions to production freezes earlier this week. Oil prices dipped lower to start the week after Russia, Saudi Arabia, Qatar and Venezuela said they’d hold output at January levels provided other producers followed suit. The move was meant to support a depressed oil economy characterized by heavy supplies. Iran, which is hoping to win back a market share in the post-sanctions era, supported mechanisms to stimulate prices, though analysts said the moves did little to erase the glut . Thursday’s rally ran out of steam after data from the U.S. Energy Information […]