Oil Rises on Increasing U.S. Consumer Confidence

Bloomberg reported that oil inched up due to rising U.S. consumer confidence after Europe agreed to bolster the rescue fund.

As quoted in the market news:

Crude oil for January delivery rose 26 cents, or 0.3 percent, to $98.60 a barrel at 2:01 p.m. on the New York Mercantile Exchange.

Click here to read the full Bloomberg report.