Oil hovers above $88 amid mixed global equities

[Omaha Steve]

Source: AP-Excite

By ALEX KENNEDY

SINGAPORE (AP) - Oil prices hovered above $88 a barrel Tuesday in Asia as global stock markets were mixed amid worries about Europe's debt crisis.

Benchmark oil for October delivery was down 1 cent to $88.18 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose 95 cents to settle at $88.19 on Monday.

In London, Brent crude for October delivery was up 19 cents at $112.44 on the ICE Futures exchange.

A late surge pushed the Dow Jones industrial average up 0.6 percent Monday and most Asian stock markets gained Tuesday. However, markets in Europe opened lower Tuesday. Oil traders often look to equities as a barometer of overall investor sentiment.

Read more: http://apnews.excite.com/article/20110913/D9PNHN381.html

[madmom]

1. So why is gas almost $4 a gallon? I think people really need to start being vocal about this.