US crude oil futures made a comeback on Wednesday after the stock market ended a three-day losing streak.

Stock futures rose on Wednesday morning after the S&P500 closed 1% higher and the Dow Jones Industrial Average gained nearly 300 points in the previous session. The two indices posted their worst day since 2022 on Monday as recession fears gripped the market.

Here are Wednesday’s energy prices:

• West Texas Middle School September contract: $74.81 per barrel, up $1.61 or 2.24%. U.S. crude oil has gained about 4.5% since the beginning of the year.
• Brent October contract: USD 78.12 per barrel, up USD 1.64 or 2.14%. Year-to-date, the global benchmark is up 1.45%.
• RBOB petrol September contract: $2.35 per gallon, up 2 cents or 0.96%. Gasoline prices have risen 11.7% since the beginning of the year.
• natural gas September contract: $2.08 per thousand cubic feet, up 7 cents or 3.68%. Since the beginning of the year, the price of gas has fallen by about 17%.

These recession fears also put downward pressure on the oil market, but escalating tensions in the Middle East and continued OPEC+ production cuts created a floor for prices.

Brent should hold its lows at $75 a barrel and will find support as recession risks are limited and oil demand is stable in the West and solid in India, Goldman Sachs said in a note this week.

Israel is bracing for a possible attack from Iran after Hamas leader Ismail Haniyeh was assassinated in Tehran last week. White House officials told The Washington Post that Iran may be reconsidering a major strike against Israel amid diplomatic pressure and the deployment of U.S. military units to the region.