Oil rebounded from a weak start on Tuesday as worries over tight inventories underpinned prices, although optimism was limited by fears over demand following a pickup in COVID-19 cases in Europe. Brent futures added 96 cents, or 1.2%, to $83.01 a barrel, as of 0712 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 80 cents, or 1%, to $81.68 a barrel. “At these oil prices, supply is going to grow but it might take six months and inventories have come down so low. We don’t have a safety margin,” said Tony Nunan, a Tokyo-based senior risk manager at Mitsubishi Corp. “We have very low inventory levels and if we have a very cold winter and OPEC is still sluggish at increasing supplies that could push oil prices up.” Global oil markets remain very tight and heavily backwardated as demand returns to pre-pandemic levels, […]