Oil bounces back to $117
London, World oil prices extended gains on Thursday following a bigger-than-expected drop in inventories of US motor fuel. New York's main contract, light sweet crude for delivery in October, climbed $1.44 to $117 a barrel in electronic deals. London's Brent North Sea crude for October advanced $1.39 to $115.75. "People are looking at the gasoline inventory drawdown,' said Mr Tetsu Emori, fund manager at Astmax asset management.