Summary Oil prices rose again Friday on signs of a stronger job market in the US.
NEW YORK (AO) - The price of oil rose again Friday on signs of a stronger job market in the U.S. and finished the week with a gain of more than 5 percent.
Benchmark U.S. crude for January delivery rose 27 cents at $97.65 a barrel on the New York Mercantile Exchange. The increase for the week was $4.93 a barrel.
U.S. data showed the outlook for hiring is improving.
On Friday, the Labor Department said the U.S. unemployment rate in November fell to a five-year low of 7 percent from 7.3 percent in October. Employers added 203,000 jobs last month, many in higher-paying sectors like manufacturing and construction.
The jobs report came after Thursday's data from the Commerce Department showed that the U.S. economy grew at a 3.6 percent annualized rate in July through September, the fastest since early 2012.
Brent crude, a benchmark for international oils, rose 63 cents to $111.61 a barrel on the ICE Futures exchange in London.
