BLBG: Oil Futures Advance in New York, Reaching Highest Level in Almost 8 Months
Oil advanced for a second day in New York to the highest level in almost eight months.
Crude for February delivery gained 53 cents, or 0.5 percent, to $103.49 a barrel at 9:45 a.m. on the New York Mercantile Exchange. The contract touched $103.74, the highest intraday level since May 11. Prices climbed 8.2 percent in 2011, their third straight annual gain.
Brent oil for February settlement rose $1.33, or 1.2 percent, to $113.46 on the London-based ICE Futures Europe exchange.
To contact the reporter on this story: Moming Zhou in New York at Mzhou29@bloomberg.net;
To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net
