Oil jumps to close to $86 per barrel in Asia after falling nearly 7 percent over past week

    The oil price was driven higher by bargain-hunting traders on Thursday after plunging about 7 percent during the past week.     Benchmark crude for December delivery was up 24 cents to $85.97 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.     When President Obama declared in Monday’s...