The oil market recovered slightly on Tuesday after a volatile start to the week when global benchmark Brent touched lows not seen since 2004 and West Texas Intermediate sank below $34 a barrel for the first time since 2009. Brent was up 0.50% to $36.53 a barrel on London’s ICE Futures Europe while WTI was up 0.73% at $36.07 for February deliveries. Brent closed on Monday at $36.35, the lowest end of day figure since July 5, 2004. Analysts have cited Wednesday’s WTI contract rollover into February as a significant factor for the positive start to Tuesday’s session, with traders and money managers preparing for the Western Hemisphere’s harsher winter months. Another boost for WTI has been the decision by the U.S. government to lift its 40-year export ban for crude oil. Exactly how much U.S. exports will affect the global market isn’t known, but it has pushed WTI […]