Oil Rises To Near $89 As Global Stocks Rally

Oil prices rose to near $89 a barrel Tuesday in Asia after a stock market rally late in U.S. trading boosted investor confidence.

Benchmark oil for October delivery was up 78 cents to $88.97 at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose 95 cents to settle at $88.19 on Monday.

From: http://ping.fm/fc88v