MW: Oil futures trade little changed near $89 a barrel
By Polya Lesova
NEW YORK (MarketWatch) -- Crude oil for November delivery rose 17 cents to stand at $89.12 a barrel in electronic trading on Globex early Thursday. "Market participants are still very much concerned that demand will continue to dwindle as global economies continue to slow sharply," said analysts at Sucden Research in a note. "However, increased expectations that OPEC [Organization of Petroleum Exporting Countries] may hold an energy meeting and cut output is underpinning the market." On Wednesday, crude fell $1.11, or 1.2%, to close at $88.95 a barrel on the New York Mercantile Exchange.
