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Crude Rises in Asia

 Phil Amato     Created: 9/25/2009 7:13:29 AM    Updated: 9/25/2009 7:14:36 AM
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SINGAPORE (AP) -- Oil prices rose above $66 a barrel Friday in Asia after investor concerns about U.S. crude demand sparked a two-day plunge.

Benchmark crude for November delivery was up 75 cents at $66.64 a barrel by midday Singapore time in electronic trading on the New York Mercantile Exchange. On Thursday, the contract fell $3.08 to settle at $65.89, the lowest since July 29.

Oil fell $6.86 during Wednesday and Thursday after an unexpected increase in U.S. crude and gasoline supplies triggered doubts about consumer spending and the strength of the economic recovery.

©2009 Associated Press. All rights reserved. This material may not be published, rewritten, or redistributed.



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