Oil Rebounds On Tight Global Energy Supply

Oil prices rose early on Tuesday, halting two consecutive days of losses as the global natural gas crunch has the market evaluating the potential of higher demand for other fuels in the upcoming winter season. As of 9:53 a.m. EDT, WTI Crude was trading up 0.51% at $70.58. Brent Crude prices were rising by 0.47% at $74.28. The surging natural gas prices in Europe just ahead of the winter heating season raise the potential for switching from gas to oil, analysts say. “These higher gas prices should offer some support to the oil market, with…