Oil rebounded on Wednesday on short-covering after prices fell near a two-week low in the prior session on OPEC's demand forecast cut, while the dollar hit a seven-month high, capping crude's gains. Brent crude futures were up 61 cents,

Technical analysis suggests that oil prices are eyeing a bounce but could face resistance around $74.00 and $76.35. Click to read.

Oil futures rose Tuesday, bouncing after back-to-back losses that sent the U.S. benchmark back below the $70-a-barrel threshold.