Oil rebounds above $88
Oil rebounded above $88 a barrel on Tuesday, recouping some of the $6 losses that sent it to an eight-month low the previous day when investors bet the global economy would slip into recession and demand for fuels would sink.
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.