Oil moves up after four-day drop

Oil moves up after four-day drop
# 08 October 2008 08:44 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. After dropping four days running, oil prices have risen by over two dollars to US$90.06 a barrel on the New York Mercantile Exchange.
OPEC President Chakib Khelil said OPEC would seek to balance the market when it meets in December.
Light, sweet crude for November delivery rose $2.25 to settle at $90.06 a barrel on the New York Mercantile Exchange, after earlier trading as high as $93.02.
In London, November Brent crude rose 98 cents to settle at $84.66 per barrel on the ICE Futures exchange.
In other Nymex trading, heating oil rose 3.17 cents to settle at $2.5057 a gallon, while gasoline futures rose less than half a penny to settle at $2.0628. Natural gas for November delivery fell 6.7 cents to settle at $6.768 per 1,000 cubic feet.
The 15-nation euro bought $1.3595 in trading Tuesday, up from the $1.3457 late Monday in New York but still at lows not seen this year.
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