Oil prices rose this evening but trimmed earlier gains as traders focused on weak US crude stockpiles and a fresh outbreak of violence in key producer Nigeria.
London's Brent North Sea crude gained 54 cents to $89.76 a barrel, having earlier reached as high as $93.21. US crude rose $1.06 to $92.21.
The US Department of Energy said crude reserves sank 6.3 million barrels in the week ending September 12 when US energy production was severely hampered by hurricane weather in the Gulf of Mexico.
Crude futures had bounced higher earlier as traders welcomed news of a bail-out for US insurance giant AIG.
Since hitting record levels above $147 in early July, prices have fallen heavily on worries the global economy is slowing and causing a dent in energy demand.
