Oil prices rose as stock markets rallied across the globe on Wednesday. Oil traders began placing bets that falling demand for crude may have already driven oil prices as low as they will go.

Light, sweet crude for December delivery rose USD 4.77 to USD 67.50 a barrel on the New York Mercantile Exchange.

In London, December Brent crude rose USD 5.18 to settle at USD 65.47 a barrel on the ICE Futures exchange

In other Nymex trading, gasoline futures rose...