Bloomberg News

Oil Drops in New York, Paring Biggest Weekly Gain Since February

October 27, 2011

Oct. 28 (Bloomberg) -- Oil fell in New York, paring the biggest weekly gain in eight months. Crude oil for December delivery was at $93.61 a barrel, down 35 cents, in electronic trading on the New York Mercantile Exchange at 11:14 a.m. Sydney time. The contract yesterday advanced $3.76 to $93.96, the highest close since Aug. 1. Prices are 7.3 percent higher this week, the biggest gain since February.

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