Oil prices rebound after recent losses

NEW YORK, Aug. 31 (Xinhua) -- Oil prices strongly rebounded from recent losses on Thursday, but U.S. crude oil prices posted steep monthly loss in August due to the Hurricane Harvey.

The West Texas Intermediate for October delivery rose 1.27 U.S. dollars to settle at 47.23 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery was up 1.52 dollars to close at 52.38 dollars a barrel on the London ICE Futures Exchange. Enditem