Oil prices rose for a second day in New York after US jobless claims fell to its lowest level in four years and over increased tensions in the Middle East sparked fears that supplies will be disrupted.
Oil futures contract rose 0.6% and moved closer to its first weekly gain in a month. US jobless claims fell to 339,000 reported last week, according to US Labor Department data.
Crude oil for November delivery rose 53 cents to $ 92.60 a barrel on the New York Mercantile Exchange of $ 92.38. Yesterday, the contract rose 82 cents to $ 92.07 a barrel. Throughout this year, oil prices fell 6.5%.
November Brent contract fell 9 cents to $ 115.62 per barrel in London. The European benchmark contract versus $ 23.24 to West Texas.