Oil prices rose on Wednesday, rebounding from losses earlier in the session amid concerns over fuel demand and the broader economy ahead of an expected big hike in interest rates by the U.S. Federal Reserve. In a volatile session, Brent crude futures for August were up 46 cents, or 0.4%, at $121.63 a barrel as .
Oil prices dropped on Wednesday on worries over fuel demand ahead of a US Federal Reserve meeting which is expected to see the central bank to hike rates by at least 75 basis points to combat inflation.