Oil Prices Rebound as Middle East Supply Fears Return

Crude oil prices, which fell to their lowest in four weeks, staged a rebound earlier today, as traders shifted their attention from the U.S. midterms to the Middle East, awaiting the next step in the war. Benchmarks dropped sharply on Tuesday on reports that Iran may be open to discussions on previously non-negotiable issues, but at the time of writing, Brent crude was trading at $103.60 per barrel, with West Texas Intermediate at $95.98 per barrel, after two energy consultancies warned against too much Gulf oil supply rebound optimism. Rystad…