BANGKOK (AP) — Oil prices rose above $98 a barrel Monday in Asia, taking a cue from gains in stock markets after a strong start to the U.S. holiday shopping season.
Benchmark crude for January delivery was up $1.35 to $98.12 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 60 cents to settle at $96.77 on Friday.
In London, Brent crude was up $1.24 at $107 on the ICE futures exchange.
Oil took its cue from Asian stocks, which were mostly higher Monday after record 226 million shoppers visited stores and websites during the four-day U.S. holiday weekend starting on …
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