Oil Prices Climb After Tumble On Hint Markets Stabilizing

Oil prices rebounded on Wednesday after falling for the past three sesssions with worries about oversupply and a slowing global economy keeping markets under pressure though sentiment may be shifting as falling equity markets seemed to stabilize.

West Texas Intermediate futures (WTI) climbed 4 cents, or 0.09 percent, to $46.28 per barrel by 0443 GMT, after plunging 7.3 percent the day before in a session when it touched its lowest since August 2017.

Global benchmark Brent crude futures rose 0.4 percent, or 23 cents, at $56.49 per barrel. It dropped 5.6 percent on Tuesday, at one point hitting a 14-month low.

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