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Article updated: 1/25/2013 7:07 AM

Oil rises above $96 despite growing stockpiles

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An oil pump works at sunset in the desert oil fields of Sakhir, Bahrain.

Associated Press

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The price of oil topped $96 per barrel Friday despite ample stockpiles of crude amid signs of growth in the world's two largest economies. Benchmark oil for March delivery was up 31 cents to $96.26 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract gained 72 cents to finish at $95.95 a barrel on the Nymex on Thursday.
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