Oil claws back after heavy selloff as supply concerns return

Crude oil futures rose nearly 3% on Wednesday as investors piled back in after the heavy rout in the previous session, shifting their focus again to supply concerns even as worries about a recession mounted.

Brent crude futures rose $2.82, or 2.7%, to $105.59 a barrel by 1222 GMT, after plunging 9.5% on Tuesday, the biggest daily drop since March.