Brent crude briefly fell below $50 a barrel for the first time in a week after U.S. drilling data showed another uptick, reinforcing views that the recent rally may restrain the rebalancing of oil markets. Oil prices have surged nearly 90% since dropping to 10-year lows in February, thanks to unplanned production outages world-wide and falling output in the U.S. However, some market participants say the rally could encourage producers to ramp up production, keeping well-supplied markets in surplus. On the New York Mercantile Exchange, light, sweet crude futures for delivery in July recently traded at $48.60 a barrel, down $0.47 in the Globex electronic session. August Brent crude on London’s ICE Futures exchange fell $0.37 to $50.17 a barrel. Some analysts say although the latest uptick doesn’t indicate a material change in U.S. […]