Oil prices rose for the fourth day in a row Thursday December 22, 2011 amid signs of an improving U.S. economy and concerns about global supplies.

The price of benchmark crude rose 86 cents to finish at $99.53 per barrel in New York. At one point in the session it hit $100.05. Brent crude, which is used to price crude produced in many foreign countries and is important for U.S. gasoline producers, rose 18 cents to end at $107.89 per barrel in London. Read more »

Crude rose from a six-week low in New York as investors bet that the biggest weekly decline in almost three months is exaggerated.

Futures gained as much as 1 percent after falling 1.1 percent yesterday December 15, 2011 on reports that showed U.S. industrial production shrank for the first time since April and European factory output contracted. The dollar weakened against most of its major counterparts, buoying demand for commodities. Read more »

Brent crude was little changed above $107 today December 13, 2011, after falling in the previous session, on concerns of demand growth as investors worried last week's pact by European leaders may not be enough to stop the region's debt crisis from worsening. Read more »

The head of OPEC said Wednesday December 7,2011 that speculators are at least partly to blame for high oil prices -- not any lack of supply on world markets.

Speaking at a World Petroleum Congress panel, OPEC Secretary General Abdulla Salem El Badri said the world has plenty of crude but that the number of barrels of oil changing hands in the financial markets is 35 times greater than the actual supply.

The numbers he cited were 3 billion barrels per day traded on global exchanges, but only 76 million barrels per day in actual supply. Read more »