Global oil prices advanced towards another higher weekly close Friday after unemployment claims surged in the US, the top oil consumer.
Light sweet crude for January delivery was seen trading at $88.61 a barrel at 12.00 noon Singapore time while Brent crude for delivery in January was at $ 91.23 a barrel in London.
In other Nymex trading in January contracts, heating oil rose 0.6 cent to $2.47 a gallon, gasoline futures fell 0.4 cent to $2.34 a gallon and natural gas was steady at $4.43 per 1,000 cubic feet.
Analysts said traders are also looked to this weekend's OPEC meeting for any changes to the cartel's crude production policy.
Organization of Petroleum Exporting Countries will likely leave the group's production quotas unchanged at Saturday's meeting in Ecuador, they added.
OPEC, which is responsible for 35 percent of global oil production, has not changed its output quotas since late 2008.
On Thursday, freezing temperatures in Europe and the United States and sharp falls in US energy inventories helped push oil prices as trader s also awaited key data from China.
New York's main contract, light sweet crude for January, gained nine cents to close at $88.37 a barrel.
In London, Brent North Sea crude for delivery in January climbed 22 cents to settle at $90.99 a barrel, as icy weather increased demand for heating fuel.
Light sweet crude for January delivery was seen trading at $88.61 a barrel at 12.00 noon Singapore time while Brent crude for delivery in January was at $ 91.23 a barrel in London.
In other Nymex trading in January contracts, heating oil rose 0.6 cent to $2.47 a gallon, gasoline futures fell 0.4 cent to $2.34 a gallon and natural gas was steady at $4.43 per 1,000 cubic feet.
Analysts said traders are also looked to this weekend's OPEC meeting for any changes to the cartel's crude production policy.
Organization of Petroleum Exporting Countries will likely leave the group's production quotas unchanged at Saturday's meeting in Ecuador, they added.
OPEC, which is responsible for 35 percent of global oil production, has not changed its output quotas since late 2008.
On Thursday, freezing temperatures in Europe and the United States and sharp falls in US energy inventories helped push oil prices as trader s also awaited key data from China.
New York's main contract, light sweet crude for January, gained nine cents to close at $88.37 a barrel.
In London, Brent North Sea crude for delivery in January climbed 22 cents to settle at $90.99 a barrel, as icy weather increased demand for heating fuel.
