Oil Climbs Back Above $100

Oil future prices rise with recent days' encouraging US economic news

Oil broke above the $100-a-barrel level Wednesday, the first time it has crossed that threshold since July 26. December futures contracts for West Texas Intermediate were up $2.65 to $102.02 per barrel in late morning trading.

Oil prices have risen almost 17% in the last month, accelerating in recent days on encouraging U.S. economic readings such as rising industrial production and better-than-forecast retail sales.

(More on $100 per barrel oil . . . )