Oil Rises for First Time in Week as Dollar Weakens Versus Euro
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Crude oil rose for the first time in a week as the dollar weakened against the euro, boosting the appeal of commodities as an alternative investment.
Oil gained 1.8 percent as the dollar fell to a 12-week low against the euro amid confidence that Europe’s economy improved. The number of Americans filing first-time claims for unemployment insurance decreased, signaling that fuel demand may rise as the job market improves.