Oil Rises Fifth Day as Central Banks Cut Funding Cost to Ease Debt Crisis

Oil rose for a fifth day after six central banks cut the cost of dollar funding to ease a European debt crisis that threatens economic growth. Crude for January delivery climbed as much as 45 cents, or 0.5 percent, to $100.81 a barrel in electronic trading on the New York Mercantile Exchange and was at $100.78 at 3:39 p.m. Sydney time.

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.