Oil Prices Rise on Strong Earnings Reports

New York, NY, April 20, 2012 -- Oil prices rose to near $103 a barrel Friday on strong company earnings reports.

Benchmark oil for May delivery was up $1.62 to $102.70 a barrel at early afternoon European time in electronic trading on the New York Mercantile Exchange.

Brent crude for June delivery rose 99 cents at $118.99 per barrel in London.