Crude oil futures were trading lower Thursday but still not far below the week’s highs, with the price gap between the two benchmark contracts at a multi-month low. Brent crude for May delivery was down 61 cents at $107.37 a barrel on ICE Futures Europe having hit its highest since March 31 in the previous session. U.S. crude-oil futures were down 24 cents at $103.35 a barrel on the New York Mercantile Exchange having topped out Wednesday at the highest since March 4. High demand in the U.S. is boosting West Texas Intermediate, which has rallied almost 3% in the past two sessions, according to Kash Kamal of Sucden Research. This is despite crude inventories increasing by 4 million barrels week-on-week, “as steady flows towards the Gulf Coast signaled…both stronger domestic and export demand.” In Europe, March demand for crude from Europe and Norway was down […]