Crude prices inch up to around $58/bl

 The rebound came after a heavier-than-expected drop in heating fuel stocks in the United States and the closure of two Norwegian oil platforms.

 New York's main contract, light sweet crude for delivery in November, rose 31 cents to $57.90 per barrel in pit trading. In earlier electronic trade, the contract plunged to 57.22 dollars - which was the lowest level since December 19, 2005, and a 27% plunge in value since striking a record high $78.40 in mid-July.

 Brent North Sea crude for November delivery added 30 cents to $58.95 per barrel in electronic deals, having earlier dropped to 58.16 dollars.

 Updated at 0800 hrs: Crude oil prices continued to slip as traders waited for OPEC to finalise details of an output cut.

Nymex crude was traded around $57.33 per barrel, and London Brent was around $58.30/bl.