Oil hits multi-year high above $86, then pulls back

By Alex Lawler LONDON (Reuters) -Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched. Helping to drive the latest gain, a supply report from the U.S. Energy Information Administration on Wednesday showed crude and fuel inventories tightened, with crude inventories at the Cushing storage hub falling to a three-year low. [EIA/S] Brent crude rose as high as $86.10, the highest since October 2018, but by 1022 GMT was down 89 cents, or 1%, to