Bloomberg News

Oil Pares Decline Before European Debt-Crisis Talks; Brent Gains

November 29, 2011

Nov. 29 (Bloomberg) -- Oil pared its earlier decline in New York. Crude for January delivery was at $98.13 a barrel, down 8 cents, in electronic trading on the New York Mercantile Exchange at 5:20 p.m. Sydney time, after earlier sliding as much as 1 percent.

Brent crude for January settlement rose 35 cents, or 0.3 percent, to $109.35 on the London-based ICE Futures Europe Exchange. European finance ministers meet today to thrash out details on how to boost the European Financial Stability Facility to tame the region’s debt crisis.

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net


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