New Delhi, May 14 -- Crude oil prices, which had come under pressure earlier this month due to fears of a global economic slowdown amid rising trade tensions, geopolitical tensions, and supply concerns, have since stabilized, fueling a rebound in both Brent and WTI futures.

Brent crude futures retreated in Wednesday's session, dropping 0.72% to a low of $66.15 per barrel. However, they have recovered nearly 12% from the May 5 low of $59.57 to trade at 2-week high of $66.49. Likewise, WTI crude futures have reached 2-week high of $63.5 per barrel after rebounding nearly 13% from the May 5 low of $56.46.

The majority of the rebound in crude oil prices has been driven by optimism over easing global trade tensions, which has boosted expecta...