Crude Oil Prices Recovered After Slide

Oil prices rallied after a slide from record peaks as investment funds capped exposure to commodities in the face of crumbling global financial markets.

U.S. crude rose $1.06 to $106.74 a barrel by 5:42 a.m. EDT, after sliding over 4 percent on Monday in the biggest one-day percentage drop in more than seven months.

London Brent futures rose $1.20 at $102.95.