A rebound in consumer confidence pushed oil close to $100 per barrel again on Tuesday, according to AP. In midday trading the price of benchmark crude was up $1.46 at $99.65 per barrel in New York. It was as high as $100.06 a barrel earlier in the session. Oil prices rose after a private survey found that U.S. consumer confidence rose this month to the highest level since July. The Conference Board survey followed robust retail sales during the Thanksgiving holiday weekend. The U.S. is the world's largest oil consumer, and its economy is driven by consumer spending. Stocks also rose 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. While traders keep a wary eye on Europe, analysts said the consumer confidence numbers suggest the U.S. economy is on stronger footing. "Everyone's really focused on the holiday shopping," independent analyst and trader Stephen Schork said. "It's pushed the European situation to the back seat." In other energy trading, heating oil rose 5.57 cents to $3.0384 per gallon, while gasoline futures rose 3.61 cents to $2.5538 per gallon. Natural gas rose 6.2 cents to $3.587 per 1,000 cubic feet. Brent crude, which is used to price many kinds of foreign oil, rose $1.80 to $109.82 a barrel in London.
