Oil Prices Set to Rise as Global Stock Refills Ramp Up

China’s rebuilding of oil inventories and higher crude purchases elsewhere for fear of escalating shipping disruptions in the Red Sea are set to support global oil demand and benchmark prices in the near term, traders and analysts tell Reuters.  Global oil stocks have been depleted to lower than historical averages since the Russian invasion of Ukraine shifted oil trade flows and sent oil prices above $100 per barrel in 2022.  At the end of last year, with oil sliding from the 2023 highs of over $95 per barrel in September,…