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Oil prices rise, hover near $67 a barrel

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Posted: Sep 29, 2009 6:21 AM by John Pastorek
Updated: Sep 29, 2009 6:24 AM
Source: Associated Press

  Rating: 5.0 (1 vote)

Topics: oil, oil prices, benchmark crude, New York Mercantile Exchange, Wall Street

Oil prices hovered near $67 a barrel in Asia as regional stock markets rebounded and investors awaited a slew of data on the U.S. economy.

Benchmark crude for November delivery was up 14 cents at $66.98 in electronic trading on the New York Mercantile Exchange.

Regional stock markets, often a barometer of optimism about economic prospects, rebounded from a sharp fall Monday after corporate takeovers boosted Wall Street to a higher close.

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