Oil bounced from 18-month lows on Friday as investors shifted their focus to efforts to resolve Europe's debt crisis, while U.S. stocks rebounded from the second-worst decline of the year.
The euro firmed against the dollar after the European Central Bank said it would accept lower-quality assets as collateral in a move to aid the region's shaky banks.
Investors worry that Europe's debt crisis is adding to the slowdown in global economic growth, especially after a spate of data on Thursday showing weakness in global manufacturing. European stocks ended lower for the day after data showed a drop in German business sentiment.
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