U.S. crude prices turned in a strong...
U.S. crude prices turned in a strong performance after traders scrambled to buy oil before a meeting in Madrid today that could set into motion a new plan to curb excess production. West Texas Intermediate, the chief domestic grade, rose 79 cents to $15.40 a barrel for oil to be delivered in November. After futures closed, prices in the New York and Houston spot markets were temporarily marked down about 10 cents from their highs when a weekly inventory report showed that crude oil stocks were building more than expected last week.
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