By 0054 GMT, Brent crude futures rose 24 cents, or 0.3 percent, to $74.49 per barrel. US West Texas Intermediate crude futures fell 27 cents, or 0.4 percent, to $70.85 per barrel.
And it fell Oil prices More than four percent to its lowest levels in about two weeks yesterday, Tuesday, due to weak demand expectations and after a newspaper report stated that Israel It will not strike Iranian nuclear and oil sites, allaying concerns about supply disruptions.
However, fears remain about the escalation of the conflict between Israel and the Iranian-backed Lebanese Hezbollah group, and the United States on Tuesday expressed its objection to the scope of Israeli air strikes in Beirut over the past few weeks.
On the demand side, the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency this week lowered their forecasts for global oil demand growth in 2024, and China was responsible for the bulk of the forecast cuts.
The market is awaiting data on crude and fuel inventories in the United States scheduled to be released today, Wednesday. Analysts polled by Reuters expected crude inventories to rise by about 1.8 million barrels in the week ending October 11.
