New York Oil Prices Up 0.46% On Over-Awareness Of Fall...rebound for the second day

International oil prices rose for the second day in a row due to the influx of repulsive buying amid the perception that the recent fall was excessive.

On the New York Mercantile Exchange, West Texas Intermediate for December delivery closed at $68.43 a barrel, up $0.31 and 0.46%p from the previous session, losing about 6% over two trading days before continuing its rebound.

Brent crude prices for January delivery, which are subject to international market comparisons, closed at $72.28 a barrel, up $0.39 and 0.54%p from the previous session, rising for a second straight session, accompanied by West Texas Intermediate crude.

West Texas Intermediate crude was once pushed back by just over 1.7% in the morning on news that Iran had decided to delay retaliation against Israel, expressing its intention to start negotiations with Trump after Trump's victory.

It then quickly turned upward, but it did not extend further due to continued demand concerns, and the "Trump Trade," or the dollar's strength, which is a Trump beneficiary, also hampered oil prices.