Futures Now

Is Crude Going Higher or Lower?

CNBC.com with Wires

Brent crude oil rose by more than $1 to reach $111 per barrel on Thursday on optimism that U.S. lawmakers would reach a deal on fiscal policy and as mounting tension in the Middle East intensified supply concerns.

It however trimmed some gains after U.S. growth data came in slightly weaker than anticipated.

Brent crude futures were up 1.2 percent at nearly $111 per barrel, having hit a session high of $111.00.

U.S. January crude futures were up $1.92 at $88.41 a barrel, after gaining $2 to reach $89.49.

That said, what's more likely for crude — $80 or $100 a barrel? Vote now in our "Futures Now" poll!