Oil rebounds above $US70 on weak US dollar
Oil has rebounded above $US70 a barrel, clawing back some of the previous session's losses, amid the market's exuberance over a global economic recovery getting underway, while a weak US dollar also lent support.
Oil jumped nearly 3 percent to above US$70 a barrel this morning, boosted by the weaker dollar and a US government report revising global demand expectations higher amid signs the economy may be approving.