NEW YORK, Oct. 25 (UPI) -- Crude oil rebounded a bit on the New York Mercantile Exchange Thursday but held under $86 per barrel, with traders recalibrating positions based on supply data.
Reduced tensions in the Middle East have erased expectations of supply shortages. It was forecast this week that suppliers who increased production to make up for lost supplies have flooded the market by as much as 630,000 barrels per day.