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Oil finished the trading day Thursday at more than $90 a barrel — the first time it has closed over that level in two months, Bloomberg reported.
Crude futures rose 15 cents to finish at $90.13 a barrel on the New York Mercantile Exchange, the fist Nymex closing price over $90 since Oct. 19.
The increase as Commerce Department said U.S. gross domestic product rose 3.1% in the third quarter, a higher-than-projected increase, which outweighed uncertainties that federal lawmakers would reach a budget deal to avert the “fiscal cliff,” Bloomberg said.
Oil has increased for five straight trading days, the longest string of gains since September. The latest gains followed a Department of Energy report released Wednesday that showed crude supplies fell by 1 million barrels last week.