(Bloomberg) — Oil advanced a second day in Asia on early signs that demand is starting to recover while producers curb output to counter a global glut.Futures in New York rose as much as 6%, after surging 22% on Wednesday. U.S. gasoline stocks fell by 3.67 million barrels compared to an estimated build of 2.49 million, the U.S. Energy Information Administration said Wednesday. Weekly gasoline supplied, an indicator of demand, rose by 549,000 barrels a day, the most since May.The discount on crude for June delivery relative to July, a structure known as contango, tightened to as little as $3.28 …read more
Source:: Yahoo Finance
