Updated on
Summary
Oil rebounded modestly in Asian trade Tuesday after overnight declines on new worries about the global economic recovery. Londons Brent North Sea crude for October delivery added six cents to 69.71 dollars a barrel. New Yorks main contract, light sweet crude for October delivery was 24 cents stronger at 70.20 dollars a barrel. Crude oil prices see-sawed last week, hitting 75 dollars for the first time in 10 months Tuesday before falling sharply. The declines on Chinese equity markets tarnished oil market sentiment, analysts said.
