SINGAPORE ? Oil prices rebounded in Asian trade Friday on bargain-hunting but analysts said the fragile state of the global economic recovery continues to weigh on the market.

A slew of weak economic data from the United States and Europe and signs of slowing growth in China sent prices tumbling during the week on fears energy demand will fall.

New York's main contract, light sweet crude for delivery in September, was up 57 cents to 76.31 dollars a barrel in Asian morning trade after tumbling 2.28 dollars in US trade overnight.

London's Brent North Sea crude for delivery in September climbed 36 cents to 75.88 dollars after dropping 2.12 dollars the previous day.

Analysts said prices remained under pressure from the faltering global economic recovery.

"The past week has been tough for shares (and) commodities... as investors succumbed to a new bout of worries about a double dip back into global recession in response to weak economic data in the US, China and Europe," said Shane Oliver, chief economist at AMP Capital Investors.

"US economic data was generally poor with a blowout in the trade deficit in June, coming on the back of weak data for construction and inventories," he said in a market commentary.

"European data was also weak, with the Bank of England revising down its growth forecasts and eurozone industrial production falling in June."

Worries of a slowdown in China and the United States are shaking the oil market as the two are world's top energy consuming nations, analysts say.

A warning on Tuesday by the US Federal Reserve that the US recovery would be weaker than anticipated hammered global markets during the week.