Oil Hovers Below $100 As US Economy Improves

Oil prices hovered below $100 a barrel Friday in Asia amid encouraging signs the U.S. economy is slowly improving.

Benchmark crude for February delivery rose 12 cents to $99.77 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract added 29 cents to settle at $99.65 in New York on Thursday.

In London, Brent crude was down 6 cents at $107.95 a barrel on the ICE Futures exchange.

From: http://ping.fm/ZfrRj