Oil prices rose more than 1 percent on Thursday, on track for a fourth straight day of gains, but analysts remained cautious about record-high U.

Brent crude futures gained 58 cents, or 1. West Texas Intermediate WTI crude futures rose 1. The gains put crude on track for its best close since a March 8 rout when investors bailed out of bullish positions due to concerns about supply.

Crude prices have been rebounding from a sharp decline in March. Refinery runs are starting to increase as U. On Wednesday, the U. Energy Information Administration EIA reported a surprising increase of 1.

Traders have been watching U. The latest data showed gasoline at million barrels, higher than any year at this point during this century other than last year. Most cargoes are going to Asia, where traders see signs of a tightening market due to efforts led by the Organization of the Petroleum Exporting Countries OPEC to cut output.

Additional production could come back online in coming days, as the ,barrel-per-day Syncrude oil sands project in Alberta, which cut production to zero after a fire, is expected to restart operations in the first week of May, according to sources familiar with the matter. Asia Europe Stocks Commodities Currencies Bonds Funds ETFs Investing Trading Nation Trader Talk Financial Advisors Personal Finance Etf Street Portfolio Watchlist Stock Screener Fund Screener Tech Mobile Social Media Enterprise Gaming Cybersecurity Tech Guide Make It Entrepreneurs Leadership Careers Money Specials Shows Video Top Video Latest Video U.

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