Bloomberg News

Crude Oil Rises in New York, Reversing Earlier Losses

October 11, 2011

Oct. 11 (Bloomberg) -- Oil increased for a fifth day as equities gained, extending the biggest rally since August for the Standard & Poor’s 500 Index, amid optimism about third-quarter earnings.

Crude for November delivery gained 38 cents, or 0.4 percent, to $85.79 a barrel at 12 p.m. on the New York Mercantile Exchange. Earlier, it touched $83.97. Prices are down 6.1 percent this year.

To contact the reporter on this story: Margot Habiby in Dallas at mhabiby@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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