Oil prices have risen for a sixth day, the longest stretch in 13 months, as Iran threatened to block transport through the Strait of Hormuz and US consumer confidence rose. Crude oil for February delivery rose $1.39, or 1.4 per cent, to $101.07 a barrel at 1pm in New York.

Brent oil for February settlement increased $1.15, or 1.1 per cent, to $109.11 a barrel on the London-based ICE Futures Europe exchange. – (Bloomberg)