Oil Rebounds After Prior Session’s Slide, Glut Worries Persist

Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that hammered prices, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo

NEW YORK—Oil prices rose about $1 a barrel a barrel on Nov. 21 bouncing from the lowest levels in months, after U.S. government data showed strong demand for refined fuel, but concerns remained over rising global crude supply.

Brent crude futures gained 95 cents to settle at $63.48 a barrel, up 1.52 percent. U.S. West Texas Intermediate (WTI) crude futures rose $1.20 to settle at $54.63 a barrel, a 2.25 percent gain.