Oil stays above $96 on consumer confidence

Oil   Oil
By Pamela Sampson on August 20, 2012

BANGKOK (AP) — Oil prices rose for a fifth straight day of gains Monday, on the back of rising consumer confidence in the U.S. economy.

Benchmark oil for September delivery rose 30 cents to $96.31 per barrel in midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 41 cents to end at $96.01 per barrel on the Nymex on Friday.

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