Oil jumped alongside broader equity markets, with traders embracing risk assets and largely overlooking a bearish US stockpile report. West Texas Intermediate settled above $70 a barrel, jumping more than $2 on Thursday. Oil traders brushed off data that showed US crude stockpiles rose by more than 4 million barrels last week and inventories in Cushing, Oklahoma, the nation’s largest storage hub, rose for a sixth week. Instead, oil rallied as equities surged and the dollar fell on speculation that the Federal Reserve will be able to pause its interest-rate hikes this month. Crude prices have dropped around 13% this ... (full story)