(Reuters) – Oil prices rebounded on Wednesday from sharp losses in the previous session as concerns about tighter supplies from Russia and Libya dominated, while industry data showed a drop in U.S. crude inventories last week.
Brent crude futures rose 66 cents, or 0.6%, to $107.91 a barrel by 0623 GMT while the front-month WTI crude futures contract, which expires on Wednesday, rose 46 cents, or 0.5%, to $103.02 a barrel. The second-month contract gained 64 cents to $102.69 a barrel.
