Oil rebounded to about $90 a barrel about two hours before trading, after falling to a several-month low yesterday on falling demand. Light, sweet crude for November delivery was up $2.05 to $89.89 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell overnight $6.07 to settle at $87.81, the lowest level since Feb. 6. Prices have fallen about 40 percent since reaching a record at $147.27 on July 11. Investor expectations about oil demand have turned completely around in the last three months as financial turmoil has sparked concern a recession could envelope the U.S. and Europe.
