Crude oil for January delivery advanced 84 cents to $88.91 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 19. Futures increased 0.7 percent this week and gained 3.1 percent this month. Prices are down 10 percent this year.
Brent oil for January settlement rose 47 cents, or 0.4 percent, to $111.23 a barrel on the London-based ICE Futures Europe exchange.
The MNI Chicago Report’s business barometer rose to 50.4 in November from 49.9 the prior month. A reading of 50 is the dividing line between expansion and contraction.
West Texas Intermediate crude in New York advanced yesterday after revised figures from the Commerce Department showed U.S. gross domestic product grew at a 2.7 percent annual rate last quarter, up from a 2 percent prior estimate.