Oil rises for 4th day, near $100 a barrel

NEW YORK (AP) — Oil prices rose above $99 a barrel today amid signs of growing U.S. crude demand and concerns about global supply.

Benchmark crude rose 73 cents to $99.40 per barrel in New York. Brent crude, which is used to price crude produced in many foreign countries and is an important feedstock for U.S. gasoline producers, rose 20 cents to $107.91 per barrel in London.

A series of positive reports in the U.S. suggested that the economy is improving. That has sent stock prices and oil prices higher this week. Crude prices are up for the fourth straight day.

Investors got a double-barrel of encouraging news Thursday, as the Labor Department said unemployment claims last week dropped to the lowest level in more than three and a half years, and a private report said leading economic indicators pointed to a strengthening economy.