WTI crude oil is up $2.58 to $76.44 today in its best day since November.Oil was hit hard last week on reports of a Hamas-Israel ceasefire but those reports proved to be wrong and oil has been slow to recover. Israel's president said the war will take 'months', which further raises the chance of spreading violence in the Middle East.More fundamentally, US inventories have been building slowly this winter ahead of the spring/summer driving season. US and global growth is also proving more resilient and there are early signs that China may be concerned about slow growth. OPEC has remained unified so far and it looks as though sanctions on Venezuela will soon return.Seasonally, there is a stron
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