Oil Prices Rebound as as Traders Reassess Iran Deal

Crude oil prices reversed much of the losses they suffered on Tuesday as traders sold, expecting a deal between Iran and the United States. Hours later, the wind of trader opinion has changed direction, and now doubts rule the market. Brent crude was trading at $67.59 per barrel, with West Texas Intermediate at $62.49 per barrel, both up after they shed some 2% on Tuesday, falling to the lowest in two weeks. The recovery was also partially a reaction to Iran partially closing off the Strait of Hormuz during a military drill, possibly as a sign…