Oil Futures Increase for Third Straight Session

Bloomberg reported that a decline in inventories pushed oil futures up for the third consecutive day.

As quoted in the market news:

Crude oil for February delivery increased $1.15, or 1.2 percent, to $98.39 a barrel at 12:17 p.m. on the New York Mercantile Exchange. Oil traded at $98.17 before the release of the report at 10:30 a.m. in Washington, then jumped to $99.25 before slipping.

Click here to read the full Bloomberg report.