Oil bounces after Tuesday pullback

Oil bounces after Tuesday pullback

Oil futures rose Wednesday, bouncing following a pullback the earlier session that analysts attributed to jitters over the financial outlook.

Price motion
Market drivers

Crude costs have been bouncing after a Tuesday pullback that noticed essentially the most actively traded WTI and Brent contracts pull again by almost 2%, with weak spot seen as information indicated a contraction in private-sector U.S. exercise in January.

Optimism…