Bloomberg News

Oil Trades Near Four-Day High in New York as Equities Recover

September 28, 2011

Sept. 28 (Bloomberg) -- Oil traded near its highest in four days in New York, paring an earlier decline and its loss for the quarter, as equities and the euro recovered on speculation European rescue measures may contain the region’s debt crisis.

Crude for November delivery on the New York Mercantile Exchange was up 9 cents at $84.54 a barrel at 11:25 a.m. London time after sliding as much as $1.79 to $82.66. The Stoxx Europe 600 index gained 0.4 percent and the euro advanced 0.7 percent against the dollar to trade at $1.3681.

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

To contact the editor responsible for this story: John Buckley at johnbuckley@bloomberg.net


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