Oil Prices Continue Upward Trend

New York, NY, Nov. 17, 2011 -- Oil prices rose above $103 a barrel Thursday in Asia, extending a 37% rally during the last six weeks.

Benchmark crude for December delivery was up 67 cents at $103.26 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

Brent crude for January delivery fell 28 cents to $111.60 a barrel on the ICE Futures Exchange in London.

Oil has soared from $75 on Oct. 4 amid signs the U.S. economy is growing slowly.