Bloomberg News

Oil Rises a Fifth Day in New York on Central Bank Funding Action

December 01, 2011

Dec. 1 (Bloomberg) -- Oil rose for a fifth day after six central banks cut the cost of dollar funding to ease a European debt crisis that threatens economic growth. Crude for January delivery climbed as much as 45 cents, or 0.5 percent, to $100.81 a barrel in electronic trading on the New York Mercantile Exchange and was at $100.78 at 3:39 p.m. Sydney time.

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