SINGAPORE: Oil prices rebounded in Asian trading on Friday as traders kept a close watch on a storm moving toward the Gulf of Mexico and key oil installations, analysts said.

New York's main contract, light sweet crude for delivery in October, rose 1.29 dollars to 116.88 dollars a barrel after a drop of 2.56 dollars to 115.59 dollars at the close of trading in New York on Thursday.

Brent North Sea crude for October gained 99 cents to 115.16 dollars a barrel. The contract shed 2.05 dollars to settle at 114.17 on Thursday in London.