Oil Rises to Highest Level in Two Weeks on U.S. Retail Sales
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Oil rose to a two-week high as U.S. consumers spent more over the Thanksgiving weekend than last year, a sign confidence in the economy is strengthening.
Oil climbed above $85 a barrel as the average U.S. shopper increased purchases by 6.4 percent from the 2009 period, a report from the National Retail Federation showed. Crude also advanced amid speculation that colder-than-normal weather may boost demand for heating fuel in the eastern U.S. and Europe.