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NEW YORK – Crude-oil futures crept back above $90 a barrel Tuesday, bouncing after a steep decline in the previous session amid anxiety about the world demand.
Light, sweet crude for November delivery settled $2.25, or 2.6%, higher at $90.06 a barrel on the New York Mercantile Exchange. Brent crude on the ICE Futures exchange rose 98 cents to settle at $84.66 a barrel.
Traders found several rationales to buy. The Federal Reserve announced a plan to backstop issuers of short-term debt known as commercial paper, the latest effort to thaw frozen credit markets. Fed Chairman Ben Bernanke suggested the ...
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