Oil rose

West Texas Intermediate crude rose for the first time in five days as U.S. equities advanced amid gains by retailers.

Prices rebounded from a six-month low. The Standard & Poor’s 500 Index increased to a record as Macy’s Inc. and J.C. Penney Co. climbed amid Black Friday sales events. Oil also moved higher on concern that unrest in Libya will cut production from Africa’s largest oil reserves.

WTI for January delivery gained $1.31, or 1.4 percent, to $93.61 a barrel at 10:28 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 45 percent below the 100-day average. Prices, down 2.9 percent in November, are set for the longest monthly slide since January 2009. Floor trading was suspended yesterday for the Thanksgiving holiday and will close an hour early at 1:30 p.m. today.

Brent for January settlement increased 36 cents, or 0.3 percent, to $111.22 a barrel on the London-based ICE Futures Europe exchange and is up 2.2 percent this month. The volume of all futures traded was 40 percent less than the 100-day average. The European benchmark grade was at a premium of $17.61 to WTI. The spread was $19.01 on Nov. 27, the widest in more than eight months, based on closing prices.