Crude Settles Little Changed

July 10, 2008 7:26:49 AM PDT
Oil prices were little changed despite developments that might have otherwise been seen as bullish for the energy futures. The Energy Department reported that crude stockpiles fell more than expected and Iran test-fired nine missiles, including a type capable of reaching Israel.

Light, sweet crude for August delivery rose a penny to settle at $136.05 a barrel on the New York Mercantile Exchange. Prices were volatile during the session.

That follow two days of steep declines that left prices more than 6 percent below last week's record high.

Oil has surged a bit in Asian trading. By midday in Singapore, crude was up 37 cents to $136.42