Oil slips back towards 18-month lows on oversupply

LONDON (Reuters) - Oil prices fell more than 1 percent on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices even as a stock market surge offered support.Brent crude oil was down 70 cents, or 1.3 percent, at $53.77 a barrel by 0845 GMT. U.S. light crude oil was 50 cents lower at $45.72. Oil prices reached multi-year highs in early October but have fallen almost 40 percent since then..