Crude Oil Rebounds From One-Week Low as Equity Markets Advance
This article is for subscribers only.
Oil rose from its lowest level in a week in New York as rebounding equity markets spurred bets that earlier losses were not justified.
Futures recovered from a 1.1 percent decline as the dollar pared some of its gains versus the euro, enhancing the appeal of using commodities to protect against inflation. Last week the dollar dropped as Federal Reserve Chairman Ben S. Bernanke signaled more so-called quantitative easing is likely.