BLBG:Oil Pares Gains in New York, London; Iran Says Crude Markets Are Balanced
Oil pared gains in New York. Crude for December delivery was at $93.36 a barrel, up 4 cents, in electronic trading on the New York Mercantile Exchange at 7:26 a.m. Singapore time, after earlier climbing as much as 0.5 percent.
Brent crude for December settlement was at $109.90 barrel, down 1 cent, on the London-based ICE Futures Europe exchange.
Iran’s Governor to OPEC, Mohammad Ali Khatibi, said supply and demand in world oil markets are balanced and he sees no need for an emergency meeting of the producer group, according to the state-run Iranian Students News Agency yesterday.
To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net
