Oil price flirts with $100 a barrel again

November 29, 2011 - 11:15 AM

NEW YORK (AP) — Oil prices are flirting with $100 per barrel again after a private survey found that American consumer confidence rose this month to the highest level since July.

Benchmark crude on Tuesday rose 90 cents to $99.11 per barrel in New York. The price was as high as $99.79 earlier in the day. Brent crude rose $1.18 to $109.20 a barrel in London.

Oil climbed with stocks, as investors were more encouraged about the global economy and energy demand.

European leaders continued to work on a last-minute strategy to save the euro and prevent a eurozone collapse that could send the region into recession.

At the pump, retail gasoline prices were steady at a national average of $3.295 per gallon.