Futures were little changed after climbing 1.7 percent yesterday. Prices are headed for a fifth weekly gain, the longest streak since April 2009. Greek Finance Minister Evangelos Venizelos told lawmakers in Athens yesterday the country won’t vote on a rescue package. Oil in New York failed to breach its 200-day moving average, which is at $94.84 a barrel today, according to data compiled by Bloomberg.

“As we get some probability the Europe situation is being contained then people are willing to put risk back on,” said Ric Spooner, a chief market analyst at CMC Markets in Sydney. “With the prospect of a low-growth economic environment and a still tight supply situation, that still puts a bit of a base under oil.”

Oil for December delivery was at $93.85 a barrel, down 22 cents, in electronic trading on the New York Mercantile Exchange at 8:44 a.m. in Singapore. The contract yesterday rose $1.56 to $94.07 a barrel, the highest settlement since Aug. 1. Futures are up 0.6 percent this week and 2.7 percent in 2011.

Brent crude for December settlement was at $110.49 a barrel, down 34 cents, on the London-based ICE Futures Europe exchange. The contract yesterday increased 1.4 percent to end the session at $110.83. The difference between Nymex crude and Brent was at $16.71 a barrel, down 40 percent from the record high of $27.88 on Oct. 14.

Europe Rates

Oil rose yesterday after the European Central Bank unexpectedly lowered interest rates by 25 basis points to 1.25 percent, after most economists in a Bloomberg News survey had predicted no change.

The European Union accounted for 16 percent of the world oil demand in 2010, according to BP Plc’s annual Statistical Review of World Energy. The U.S. is the world’s biggest oil consumer, using 19.1 million barrels a day, or 21 percent of global consumption.

Payrolls in the U.S. climbed by 95,000 workers after a 103,000 September increase, according to the median forecast of 65 economists surveyed by Bloomberg News before a Labor Department report today. The jobless rate was 9.1 percent for a fourth consecutive month, the report may also show.

Oil futures may be poised to drop as the five-day stochastic oscillators remain above 70, an indication prices may have advanced too quickly. Investors tend to sell contracts when they are considered “overbought.”

To contact the reporter on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net