Thursday 1 September 2011

Oil hovers below $89 amid global stock rally (AP)

San Bruno Mayor Jim Ruane, right, shakes hands with National Transportation Safety Board (NTSB) Chair Deborah Hersman after an NTSB hearing regarding the gas pipeline which exploded in San Bruno, Calif., a suburb of San Francisco, Tuesday, Aug. 30, 2011, in Washington. (AP Photo/Charles Dharapak)AP - Oil prices hovered below $89 a barrel Thursday in Asia amid a global stock market rally that has boosted crude trader optimism the U.S. may avoid a recession.



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