Oil prices settle higher, supported in part by third-quarter growth in the U.S. economy

Oil futures settled higher on Thursday, stretching their gains into a third straight session on the back of U.S. GDP data showing that the nation’s economy grew at an annual 2.6% pace in the third quarter, following two straight quarters with declines. U.S. benchmark West Texas Intermediate crude for December delivery CLZ22, +1.06% rose $1.17, or 1.3%, to settle at $89.08 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since Oct. 13, FactSet data show.