Oil prices rose 3 percent on Friday, posting a second straight weekly gain, on lift from stronger-than-expected U.S. retail sales and optimism about the prospect that European leaders can reach a deal to address the euro-zone debt crisis.
With Brent's front-month
November contract expiring on Friday, the premium to U.S. crude
strengthened and intraday reached a record $28.10 a barrel.
U.S.
retail sales grew at their fastest pace in seven months in September,
above expectations, and sales for August and July were revised higher as
well.
