Benchmark Brent crude oil prices inched up just above a key support level of $50 on Wednesday, recovering from multi-month lows, as investors await U.S. oil inventories data to gauge supply. Oil markets paused for a breather after prices tumbled about 20 percent in July because of a supply glut. OPEC continued to pump at record rates in July and U.S. shale oil production showed no sign of abating as drillers added more rigs in past two weeks. A landmark nuclear deal struck between Tehran and world powers has sparked concerns of more Iranian oil returning to global markets and worries about fuel demand growth has also dragged down oil prices. “The market is still digesting news of Iran coming back with more supply,” Ben Le Brun, a markets analyst at OptionsXpress […]