November 16, 2012 at 18:12 PM EST
Gulf Of Mexico Blaze, Mideast Tensions Lift Oil
Oil rose Friday as a fire on a Gulf of Mexico platform and the escalating conflict between Israel and Palestinians stoked supply concerns. January U.S. crude oil gained $1.05 to $86.92 a barrel. Front-month January Brent crude rose 94 cents to settle at $108.95 a barrel. News of the fire at a Black Elk platform in morning trade helped crude extend early gains, although the Coast Guard later said it had not been producing oil at the time of the
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