Oil hovers near $71

Oil prices hung near $71 a barrel Wednesday in Asia, The Associated Press reported.
Benchmark crude for October delivery was down 13 cents to
$70.80 a barrel by late afternoon Singapore time in
electronic trading on the New York Mercantile Exchange. On
Tuesday, the contract rose $2.07 to settle at $70.93.
In other Nymex trading, gasoline for October delivery fell
0.57 cent to $1.78 a gallon, and heating oil was steady at
$1.78 a gallon. Natural gas jumped 12.2 cents to $3.44 per
1,000 cubic feet.