A rebound in US consumer confidence and escalating tensions in Iran pushed oil to US$100 per barrel on the Nymex. Brent crude rose to US$109.86 a barrel in London.
Following robust retail sales over the Thanksgiving weekend, a private survey reported a rise in consumer confidence in USA this month to the highest level since July. Rising violence in Iran, the world's third-largest oil exporter, has also boosted oil prices. European leaders continue to work on a last-minute strategy to save the euro and prevent a eurozone collapse that could send the region into recession.