Crude oil rebounded Tuesday, after coming close to two-year lows in the previous session. Commerzbank said that, after weeks of falling prices, money managers were displaying “extremely negative sentiment towards Brent.” In the latest available data, speculators cut their net bets that crude would rise by the biggest margin in three years. Brent had been falling on high supply and a strengthening dollar, which make the commodity more expensive to those who trade outside the U.S. There may not be much left for the contract to fall further, said Commerzbank, which could help account for Tuesday’s bounce. The gap between oil prices on either side of the Atlantic is closing , said analysts at Energy Aspects. “The narrowing of the WTI-Brent spread was long overdue,” they said. A combination of factors has kept U.S. benchmark WTI high as Brent has fallen, Energy Aspects noted, including later-than-expected refinery maintenance in […]