Oil prices up 2 percent on OPEC speculation

By Barani Krishnan NEW YORK (Reuters) - Oil prices rose by more than 2 percent in volatile trade on Wednesday on speculation OPEC members gathered in Algeria could lay the foundation for a production-limiting deal in November. Crude futures had gyrated earlier after a surprise drop in U.S. crude stockpiles for a fourth straight week was offset by a large build in gasoline. Brent crude was up $1.24, or 2.7 percent, to $47.31 a barrel by 12:25 p.m. EDT (1625 GMT). It fell to a session low of $45.7