Oil rose after a two-day decline with a selloff in global equities easing and some crude output still shut three weeks after Hurricane Ida hit the U.S. Futures in London climbed above $75 a barrel. Wider markets recovered from a selloff on Monday, which also rippled into oil, ahead of this week’s Federal Reserve meeting. Ida is having a lasting impact on the oil market with some fields in the Gulf of Mexico unable to resume supply until next year. Traders are also weighing the impact of the global energy crunch on demand. Oil has resumed its advance over the past month, in part due to a tightening of the market following lingering supply disruptions from U.S. storms. At the same time, consumption is coming into focus in anticipation that soaring natural gas prices will force a shift toward oil. “Any macro selloff will continue to provide a buying […]