Oil Trades Near One-Week Low in New York on Europe, Stockpiles

Bloomberg reported that oil traded near one week on concern over faltering economic growth in Europe and rising supplies in the U.S.

As quoted in the market news:

Crude oil for January delivery was at $97 a barrel, up 8 cents, in electronic trading on the New York Mercantile at 10:25 a.m. Sydney time. The contract slipped 75 cents yesterday, or 0.8 percent, to $96.92, the lowest settlement since Nov. 9. Prices are 14 percent higher than a year ago.

Click here to read the full Bloomberg report.