Oil rebounds from 12-year low as equities rally, shorts cover

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices rebounded over $1 a barrel from 12-year lows on Thursday, their biggest daily gain this year, as rallying financial markets gave some bearish traders reason to take profits on record short positions. U.S. crude vaulted back towards $30 per barrel as hopes for easier monetary policy from Europe fuelled a recovery in stock markets in European and on Wall Street. "The fundamentals are still weak and you still have worries about economic growth