Oil prices edged up Thursday amid bargain-hunting after the prior day’s sell-off on concerns about the US “fiscal cliff” and the European public debt crisis.

New York’s main contract, West Texas Intermediate crude for December, rose 65 cents from Wednesday to settle at $85.09 a barrel. Brent North Sea crude for delivery in December gained 43 cents to $107.25 a barrel in London trade.

via After steep slump, oil prices eke out tiny gains.

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