U.S. Oil Prices Rise above $100 a Barrel
U.S. oil prices Friday rose above $100 a barrel ahead of the Department of Energy's weekly release on the nation's oil inventories.
At around 1525 GMT, U.S. benchmark West Texas Intermediate for delivery in February rose 68 cents to $100.23 a barrel on the New York Mercantile Exchange. WTI last traded above $100 on October 21.
Friday's rise came ahead of the weekly U.S. inventory report by the U.S. Energy Information Administration. Analysts expect a decline in stocks of 2.2 million barrels, according to a survey by the Wall Street Journal.
Markets are also eyeing South Sudan, where violence across the oil-producing region has prompted mass evacuations of oilfield workers.
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