Oil prices rise amid market optimism

Oil prices increased Friday despite a strong U.S. dollar and rising U.S. rig count, as market becomes optimistic that an oil output cut deal will be reached by the end of this month.

The West Texas Intermediate for December Delivery added 27 U.S. cents to settle at 45.69 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery increased 37 cents to close at 46.86 dollars a barrel on the London ICE Futures Exchange. Endit