Oil prices rebound after heavy selloff

New York, Sep 16 (IANS) Oil prices bounced Tuesday as traders bought the dip after sharp decline.

The West Texas Intermediate for October delivery moved up 59 cents to settle at $44.59 a barrel on the New York Mercantile Exchange, while Brent crude for October delivery increased 26 cents to close at $46.63 a barrel on the London ICE Future Exchange, Xinhua news agency reported.

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