* Canadian dollar gains 0.1% against the greenback * Loonie touches its strongest since April 2018 at 1.2590 * Price of U.S. oil falls 0.9% * Canadian bond yields rise across a steeper curve TORONTO, Jan 21 (Reuters) - The Canadian dollar strengthened to a near three-year high against its U.S. counterpart on Thursday, tracking gains for stock markets globally even as U.S. President Joe Biden formally revoked the permit needed to build the Keystone XL oil pipeline. World stocks racked up record highs and the U.S. dollar fell as investors bet major stimulus from Biden and unswerving global central bank support would cushion the coronavirus"s economic damage. Canada runs a current account deficit and is a major producer of commodities, including oil, so the loonie tends to be sensitive to the global economic outlook. Scrapping the permit for the Keystone XL pipeline dashed Ottawa"s hopes of salvaging the $8 billion project, which would move oil from the province of Alberta to Nebraska. U.S. crude oil futures were down 0.9% at $52.85 a barrel after industry data showed a surprise increase in U.S. crude inventories that revived pandemic-related demand concerns. The Canadian dollar was trading 0.1% higher at 1.2613 to the greenback, or 79.28 U.S. cents, having touched its strongest intraday level since April 2018 at 1.2590. On Wednesday, the Bank of Canada opted against cutting interest rates, saying the arrival of a COVID-19 vaccine and stronger foreign demand is brightening the outlook for the Canadian economy in the medium term. The central bank signaled it would reduce the pace of bond purchases as it gains confidence in the strength of the economic recovery. Canadian government bond yields were higher across a steeper curve, with the 10-year up 4.6 basis points at 0.874%. (Reporting by Fergal Smith; Editing by Andrea Ricci)