Reuters | Oil rallies as hopes grow for output cut Reuters LONDON Oil rallied to four-month highs on Thursday, underpinned by a surprisingly large drop in U.S. inventory levels the previous day and by growing expectations for the world's largest producers to agree to cut supply. Brent crude futures LCOc1 were ... US crude breaks $50 a barrel for first time since June Can Oil's Strong Recovery Last? (XLE, USO) US Crude Passes $50 a Barrel for the First Time Since June |