Oil prices rebounded from earlier losses after Brent hit a two-month low, as investors attempted to capitalize on recent declines in benchmark contracts that came from renewed worries about oversupply. The market earlier dropped after the Paris-based International Energy Agency said global oil supply would outstrip demand this year, prompting fears that efforts to reduce inventories would fall short of expectations. Brent crude futures LCOc1 were down two cents to $62.57 a barrel by 12:25 p.m. EST (1725 GMT), while U.S. West Texas Intermediate crude futures CLc1 dropped 15 cents to $59.14 a barrel. Oil prices fell ... (full story)