Oil prices rebounded slightly in Asian trading after hitting one-month lows. Brent crude traded at $62.72/barrel, while WTI was at $58.17, up by 0.38%. U.S. oil inventories fell by 1.9 million barrels, providing positive news. Expectations of a Federal Reserve rate cut and supply disruptions from Russia and Ukraine impact prices. Markets remain bearish due to oversupply and soft demand. Hope for a Ukraine-Russia peace deal raises concerns about more supply. Traders await EIA inventory report but need a significant catalyst for price movement.

Read more at Yahoo Finance: Oil Prices Inch Higher After Hitting One-Month Lows