NEW YORK, Oct. 26 (Xinhua) -- Crude prices Friday rose on the better-than-expected gross domestic product data for the third quarter.
The crude prices got support after the U.S. Commerce Department reported on Friday that the GDP of the world's largest economy grew 2 percent in the third quarter, up from 1.3 percent in the second quarter, and was slightly stronger than the market's expectation of 1.8 percent growth rate.
U.S. consumer confidence in October rose to the highest level in more than five years, a hopeful sign that the U.S. economic recovery may remain on track, according to the Thomson Reuters/ University of Michigan index of consumer sentiment revealed Friday.
Also, turbulence in Syria and its spill-over to periphery countries, along with the continuing dispute over Iran's nuclear program, offered further support to crude prices, especially for the Brent.
But the gains were pared as forecasters were expecting a " Frankenstorm" -- a natural horror show of high wind, heavy rain, extreme tides and potential snow for several days -- to hit the East Coast of the U.S. beginning early Sunday, which could force refinery shutdown and reduce energy demand as people were forced to stay at home.
Worries about Spain also kept the euro down and weighed in the crude, helping limit oil's gains.
Light, sweet crude for December delivery rose 23 cents, or 0.27 percent, to settle at 86.28 dollars a barrel on the New York Mercantile Exchange. For the week, it fell 3.77 dollars, or 4.19 percent.
Brent crude for December delivery gained 1.06 dollars, or 0.98 percent, to finish at 109.55 dollars a barrel, posting a weekly decline of 59 cents, or 0.54 percent.
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