| GEO Business | | Oil rebounds in Asia | Updated at: 1007 PST, Tuesday, September 01, 2009
SINGAPORE: Oil rebounded modestly in Asian trade Tuesday after overnight declines on new worries about the global economic recovery, analysts said.
New York's main contract, light sweet crude for October delivery was 24 cents stronger at 70.20 dollars a barrel. Brent North Sea crude for October delivery added six cents to 69.71 dollars a barrel. Both contracts had closed below 70 dollars Monday after a sharp Chinese equity sell-off triggered worries about the global economy's recovery from recession, analysts said.
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