Oil prices rebound from Tuesday

The prices of oil increased on Wednesday, bringing the back of some massive losses.

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Concerns about supply came to the forefront, and overcame the lingering concerns about a possible global recession.

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Brent crude futures increased by $1.43 which is 1.39 percent up to $104.20 one barrel by 1120 GMT.

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U.S. West Texas Intermediate (WTI) crude gained 65 cents in the amount of 0.65 percent, to $100.15.

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Both contracts posted their highest daily decline since March.

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The price of oil has seen an increase due to a rising dollar.

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A higher value U.S. dollar usually makes oil more expensive in other currencies, which can reduce the demand.

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