Oil bounced back from seven-month lows in Asian trade Tuesday as cheaper prices spurred investors back into buying mode. New York's main contract, light sweet crude for delivery in June, added 57 cents to 70.65 dollars a barrel. The contract briefly plumbed to 69.27 in the US yesterday, itslowest level since October 5, 2009. London's Brent North Sea crude for July was up 72cents at 75.82 dollars. The market's daily movements in the past few days weredriven by investor behaviour rather than the supply and demandbalance, said Ben Westmore, a Melbourne-based energy economistwith the National Australia Bank. Prices have fallen sharply since touching a 19-monthhigh of USD 87.15 a barrel on May 3 as mounting concerns overthe eurozone debt crisis sent the euro slumping to a four-yearlow against the US dollar. A stronger greenback makes dollar-priced crude moreexpensive for buyers using weaker currencies, denting demand,which leads to lower oil prices.