Oil prices bounce back supported by stronger fuel demand data from US

Oil prices bounced back today supported by stronger fuel demand data from the United States, the world's top oil consumer. Prices had dropped by more than a dollar per barrel yesterday. In intra-day trade, Brent crude was trading at 76 dollars and 72 cents a barrel while West Texas Intermediate crude price was at 72 dollars 80 cents per barrel when reports last came in.