Oil Prices Stable As Traders Relaxed

Oil prices were stable Friday as a more stable stock market alleviated traders' worries about an economic slump dampening demand.

Light, sweet crude for October delivery gained 1 cent to $69.84 a barrel on the New York Mercantile Exchange.

Crude futures rose Thursday along with stocks boosted by optimism over Bank of America Corp.'s $2 billion capital infusion into Countrywide Financial Corp., one of the largest U.S. mortgage lenders. Countrywide had recently struggled to raise the financing needed to run its business.