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Oil Jumps 2% Despite Glut, Hits 2016 Peaks

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NEW YORK, April 28 (Reuters) - Oil markets jumped 2 percent on Thursday, hitting 2016 highs for a third straight day as a weaker dollar had investors shrugging off record high U.S. crude inventories and relentless pumping by major producers.


Oil prices have surged nearly 80 percent since hitting 12-year lows of around $27 a barrel for Brent in late January and about $26 for U.S. crude in mid-February.


http://www.downstreamtoday.com/news/article.aspx?a_id=51964


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