Oil rises $3 a barrel towards $91

Tue Oct 7, 3:46 AM
LONDON (Reuters) - Oil rose by $3 a barrel on Tuesday after a surprisingly large interest rate cut by Australia's central bank sparked hopes that other policymakers would follow suit to stem the credit crisis.
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(Reuters)

LONDON (Reuters) - Oil rose by $3 a barrel on Tuesday after a surprisingly large interest rate cut by Australia's central bank sparked hopes that other policymakers would follow suit to stem the credit crisis.

U.S. crude oil was up $3 a barrel at $90.81 as of 3:21 a.m. EDT.

(Reporting by Alex Lawler)