Oil prices rose on Wednesday as investors looked for bargains after the previous session’s slump and on hopes that consuming countries will look to fill their strategic reserves, although oversupply fears and warnings of a deep recession capped gains. U.S. West Texas Intermediate crude rose 36 cents, or 1.8%, at $20.47, having crashed 10.3% in the previous session. “Investors unwound short positions, after confirming a rise in U.S. crude oil stocks,” said Kazuhiko Saito, chief analyst at Fujitomi.
