Oil steadied around $100 a barrel, with Goldman Sachs Group Inc. arguing that a plunge driven by fears a recession will hurt demand was overdone. West Texas Intermediate rose 0.8%, while Brent added 1.5%. Those gains were small compared to Brent’s decline of more than $10 on Tuesday, its third largest ever in dollar terms. While that drop was borne out of concern of a global recession and technical selling, there’s been little change to market fundamentals. Nearby Brent futures are trading at a giant premium to later months — indicating market strength — while disruption to global oil production has been mounting, amid a risk to Kazkahstan’s oil exports. WATCH: Wayne Gordon of UBS Global Wealth Management discusses the outlook for energy, commodity currencies and gold. Oil has opened the third quarter on a volatile footing as concerns about a potential recession rattled financial markets. With central banks […]