Oil rose on Wednesday after plunging nearly 10% in the last two sessions, buoyed by supply concerns as the European Union works on gaining support for Russian oil and flows of Russian gas to Europe through a key transit point in Ukraine dried up. The EU has proposed an embargo on Russian oil, which analysts say would further tighten the market and shift trade flows. A vote, which needs unanimous support, has been delayed as Hungary has dug in its heels in opposition. read more Brent crude was up $2.86, or 2.8%, to $105.32 a barrel at 0815 GMT, while U.S. West Texas Intermediate crude climbed $2.53, or 2.5%, to $102.29. “The oil market is […]