Oil Climbs to Highest in a Week on U.S. Sales, Syrian Sanctions

Oil rose to its highest in more than a week in New York on signs of economic recovery in the U.S., while sanctions on Syria stoked concern Middle East crude supplies may be threatened.

Futures advanced a second day, gaining as much as 4.1 percent to more than $100 a barrel. U.S. retail sales during Thanksgiving climbed 16 percent to a record. The Arab League imposed sanctions on Syria after the country refused to halt a crackdown on protesters. The country produced an average of 332,000 barrels of crude a day in August, according to the International Energy Agency.