Oil prices hovered below $89 a barrel Tuesday in Asia. Benchmark oil for January delivery was up 20 cents to $88.81 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 82 cents to settle at $88.61 on Monday, the Associated Press reported. In other Nymex trading in January contracts, heating oil rose 0.6 cent to $2.47 a gallon, gasoline futures dropped 0.2 cent to $2.32 a gallon and natural gas fell 0.8 cent to $4.41 per 1,000 cubic feet. In London, Brent crude rose 25 cents to $91.64 a barrel on the ICE Futures exchange.
