Oil prices rose Friday, reversing some losses from the previous session when crude fell nearly $1 a barrel on worries a slowing U.S. economy would cut petroleum consumption.
Light, sweet crude for September delivery rose 60 cents to $75.55 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe.
The contract had dropped 93 cents to settle at $74.95 a barrel Thursday as global stock troubles deepened. Street suffered one of its worst losses of 2007 amid worries about the U.S. mortgage and corporate lending markets, and the Dow Jones industrials closed down more than 310 points.
Some analysts said the market was concerned that the plunge could hurt oil demand.
Read more in Financial Express
