Bloomberg News

N.Y. Oil Futures Rise After El-Badri Statement on OPEC Quotas

June 08, 2011

June 8 (Bloomberg) -- Crude oil rose as much as 0.8 percent after OPEC Secretary General Abdalla el-Badri said ministers were unable to reach a decision on production quotas at their meeting in Vienna today.

Crude oil futures for July delivery rose 71 cents to $99.80 a barrel at 9:20 a.m. on the New York Mercantile Exchange. Oil earlier fell as low as $98.02.

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