Oil Rises Above $77 After Plunging nearly $3 Friday

SINGAPORE (AP) -- Oil prices have recovered some ground in Asia after Friday's big fall.

Benchmark crude for December delivery fell $2.87 to settle at $77 Friday as the dollar gained and stock markets dropped on news U.S. consumer confidence had plunged in September.

Prices had gained 51 cents at midday Singapore time in electronic trading on the New York Mercantile Exchange.

Oil has slumped from this year's high of $82 a barrel last month as the dollar reversed some of its earlier losses.

 

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