Oil Rises to Three-Month High as U.S. Jobless Claims Decline

Bloomberg reported that oil surged to the three month high as a government report claimed that the U.S. jobless claims has declined.

As quoted in the market news:

Crude for December delivery climbed $2.04 to $97.78 a barrel on the New York Mercantile Exchange, the highest settlement since July 26. Prices have risen 7 percent this year. Futures dropped for the first time in six sessions yesterday.

Click here to read the full Bloomberg report.