Crude oil has posted gains of 1.7% on Thursday, erasing the losses seen on Wednesday. In the North American session, West Texas Intermediate crude oil futures are trading at $56.91, up $0.56 or 1.00%. Brent crude oil futures are trading at $62.23, up $0.48 or 0.76%. The markets have become accustomed to inventory surpluses, and this trend continued with this week’s crude report from the Energy Information Administration (EIA). The surplus of 7.9 million barrels crushed the forecast of 1.9 million. The EIA has reported surpluses in six of the past seven weeks, with some 30 million added to U.S. inventories during that ... (full story)