Oil near $96 after BOJ eases monetary policy

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by Laura Matovina

Story Created: Sep 19, 2012 at 4:49 AM CDT

Story Updated: Sep 19, 2012

BANGKOK (AP) -- Oil rose to nearly $96 a barrel after two days of declines as Japan's central bank joined the U.S. Federal Reserve in easing monetary policy.

Benchmark oil for October delivery was up 63 cents to $95.92 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.33 to close at $95.29 on the Nymex on Tuesday.

Brent crude added 46 cents to $112.49 on the ICE Futures exchange in London.

Traders are also keeping their eyes on oil supplies as U.S. Gulf Coast refineries return to production after shutting down due to Hurricane Isaac.

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