Crude oil rose to $103.41 during afternoon trading and settled at $102. 24 a barrel. An improved outlook for US economic growth also sent the stock market to a five month high. In addition, tensions in Iran and Nigeria raised supply concerns for the near term.
To read a related Reuters article, please click here:
http://www.reuters.com/article/2012/01/10/us-markets-oil-idUSTRE7AD06820120110
Jim Sutliff