Rally in oil futures eased on Monday after reports of a small gain at Cushing. Oil pared gains amid rising stockpiles at the biggest U.S. storage hub, signaling a crude supply drain may be slowing. Futures in New York closed 0.6% higher on Monday. Inventories at Cushing, Oklahoma, the delivery point for benchmark U.S. crude futures, rose by about 852,000 barrels in the period Oct. 26-Oct. 29, according to traders citing data from Wood Mackenzie. Any reversal in the trend of supply declines at Cushing, “should at least quell the panic on inventories,” said Rebecca Babin, senior energy trader at CIBC Private Wealth Management. Crude has soared this year as economies recover from the pandemic and amid an energy squeeze marked by shortages of gas and coal. Bank of America even said it expects Brent crude to hit to hit $120 a barrel by the end of June. Meanwhile, […]