Wait a day and crude oil prices will bounce one way or the other and such was the case on Tuesday when prices rose about 3% because of indications for higher demand in Europe and China combined with lower production in the U.S.
Also adding to the jump was the continued tensions in the Middle East.
Brent crude, the global benchmark went up $1.92 or 3.2% to close at $62.15 a barrel.
West Texas Intermediate in the states rose $1.96 or 3.4% and finished at $59.09 a barrel on the New York Mercantile Exchange.
Reuters reported both benchmarks rose out of technically oversold territory, the day after posting their lowest settlements since February 2021 on a decision by OPEC+ to boost output.
Oklahoma energy stocks split the day with nearly even numbers of gainers and losers.
Coterra Energy had one of the largest falls with a more than 9% loss in share values for the day. PHX Minerals fell more than 7%. Gains by others were considered to be moderate.