Oil prices dipped below $115 a barrel but remained near a three-month high on Thursday Jan. 31, 2013 as optimism about global economic growth boosted demand expectations, while concern over supply continued to underpin strength in the market.

"I wouldn't read too much into it (the dip in oil prices)," said Carsten Fritsch, an oil analyst at Commerzbank in Frankfurt, adding he expected oil prices to make further gains this week. Read more »

The price of oil rose closer to $95 a barrel on Thursday January 17, 2013 as Islamic militants took hostages at a natural gas plant in Algeria and U.S. crude supplies fell unexpectedly.

By early afternoon in Europe, benchmark oil for February delivery was up 42 cents to $94.66 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 96 cents to close at $94.24 a barrel on Wednesday. Read more »

Oil prices retreated slightly on Monday December 7, 2013 as weak energy demand and concerns over more fiscal battles in Washington tempered news of growth in the US jobs market, analysts said.

New York's main contract, light sweet crude for delivery in February shed 11 cents to $92.98 a barrel.

Brent North Sea crude for February dropped 30 cents to $111.01 in late London deals.

Official data on Friday showed that the US economy generated 155,000 jobs in December, and the unemployment rate held at 7.8 percent. Read more »

The price of oil rose sharply on higher U.S. home prices and hopes of a budget deal in Washington.

U.S. benchmark crude jumped $2.06, or 2.3 percent, to $90.67 per barrel in thin post-Christmas trading Wednesday Dec. 26, 2012 afternoon in New York.

U.S. home prices rose in most major cities in October compared with a year ago, according to a key report. The improvement is adding to economic growth, which generally boosts energy consumption and lifts prices. Read more »