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Oil futures head for fifth day of gains
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SAN FRANCISCO (MarketWatch) -- Thinly staffed trading desks attempted to push oil futures to their fifth straight day of gains Friday, riding a wave of better U.S. data, a drop in U.S. inventories, and increased concerns about Middle East supplies. Oil for February delivery CL2G +0.27% was up 31 cents, or 0.3%, to $99.84 a barrel as floor trading on the New York Mercantile Exchange got underway. This week, oil has risen more than 6%. In the latest slew of economic data, the Commerce Department said durable-goods orders rose 3.8% in November, the largest gain since July. U.S. equities also opened with gains. The dollar drifted higher. Oil's regular session closes early, at 1:30 Eastern.