Bloomberg News

Crude Oil Rises for a Sixth Day in New York on Europe Optimism

November 09, 2011

Nov. 9 (Bloomberg) -- Oil rose for a sixth day in New York. Crude for December delivery gained as much as 47 cents, or 0.5 percent, to $97.17 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.95 at 12:01 p.m. Sydney time. The contract yesterday advanced $1.28 to $96.80, the highest settlement since July 28, as investors speculated that an offer to resign by Italy’s Prime Minister Silvio Berlusconi brings Europe closer to resolving its debt crisis.

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net


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