Oil prices rose in volatile trade on Wednesday, as investors looked for clues whether an agreement between major producers to support prices can hold. Later on Wednesday, Organization of the Petroleum Exporting Countries President Mohammed al-Sada will discuss a plan to cap crude production with ministers from Iran, Venezuela and Iraq at a meeting in Tehran amid wide-ranging skepticism about the chances of such a plan. Brent crude, the global oil benchmark, rose 2.8% to $33.05 a barrel on London’s ICE Futures exchange after trading as low as $31.82 earlier in the session. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 2.2% at $29.65 a barrel. On Tuesday, Saudi Arabia and Russia, the world’s two largest crude-oil exporters, said they would freeze their oil production at the January levels as long as other major producers followed suit. Iran, however, appeared to reject the agreement […]