MW: Crude futures extend sharp rally, but off lows
By V. Phani Kumar
NEW YORK (MarketWatch) -- Crude-oil futures were sharply higher early Tuesday but off the session's highs as U.S. stock index futures pointed toward a weak opening on Wall Street. The front-month contract for light, sweet crude for December delivery CL1Z +2.45% rose $2.39, or 2.6%, to $93.66 a barrel, continuing its strong rally of the previous session that came on the back of hopes that Europe's leadership will agree on the path to resolving its debt crisis. But the prices were off the session's $94.58 high. The performance was in contrast with and narrowed the gap with December Brent futures, which slid 70 cents, or 0.6%, to $110.75 a barrel.
