Brent oil rebounded from a 27-month low on speculation prices decreased more than justified. West Texas Intermediate futures advanced. Futures climbed 0.5 percent in London and WTI rose 0.7 after falling below $89 for the second time since April 2013. Commodities also gained as equities stabilized and the dollar declined. Gasoline climbed on reports that Irving Oil Corp.’s Saint John, , refinery will be shut for unplanned repairs through Nov. 20. WTI dropped as much as 1.1 percent earlier on signs that global output growth is outpacing demand. “There wasn’t a lot of follow-though when WTI broke through $89, which was probably a short-term technical signal to some,” Kyle Cooper , director of research with IAF Advisors and Cypress Energy Capital Management in Houston, said by phone. “Equities appear to have found a bottom, which is also lending some support.” Brent for November settlement rose 48 cents to end […]
