-
Oil prices edge up after two days of steep falls
Crude oil prices recovered on Thursday after a two-day slide, although high U.S. stocks and strong global production, along with a firm dollar, were keeping markets under pressure. The gains followed two days of steep falls as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws. Industry group American Petroleum Institute (API) said after the market's settlement that U.S. crude inventories rose by 1.3 million barrels last week, following three weeks of straight withdrawals. <EIA/S> The U.S. dollar index .DXY ticked lower, but ... (full story)