WTI recovers some losses on technical rebound, diplomatic optimism

West Texas Intermediate traded around $75.50 at noon on Wednesday, up 1.56% on the day, as investors take advantage of a technical rebound following a 5% decline the previous day.

However, the recovery remains limited by diplomatic progress between the United States and Iran, which is fueling hopes of the reopening of the Strait of Hormuz and reducing concerns over global oil supply disruptions....