Oil price 'could spike back up to $90 a barrel'   

The price of crude oil could rebound and quickly rise past $90 per barrel.

The price of crude oil could rebound and quickly rise past $90 per barrel should the US Federal Reserve ease back on the pace of interest rate hikes and a "successful" economic reopening by China, Bank of America Global Research has said.

Lately, oil prices have been steadily declining due to fears that a weakening global economy would slash fuel demand, setting prices on track for a second consecutive quarterly fall.