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Oil rose
West Texas
Intermediate crude advanced for a third day as applications for
Prices
climbed as much as 1.5 percent. Jobless claims dropped by 20,000 to
WTI for
March delivery rose 93 cents, or 1 percent, to $98.31 a barrel at 10:45 a.m. on
the New York Mercantile Exchange. The volume of all futures traded was 13
percent more than the 100-day average.
Brent for March settlement gained 68 cents, or 0.6 percent, to $106.93 a barrel on the London-based ICE Futures Europe exchange. Volume of all futures traded was 9.1 percent above the 100-day average.The European crude was at a premium of $8.62 to WTI on the ICE exchange. The spread closed at $8.87 yesterday.
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