Crude Oil Futures Head for Highest Year-End Close Since 2007
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Oil, little changed in New York, headed for a second yearly advance and its highest year-end close since 2007, as evidence the global economic recovery is gaining momentum stokes demand for raw materials.
Crude has risen 13 percent this year, extending last year’s 78 percent rally. Commodity prices have beaten gains in stocks, bonds and the dollar this year as China led a recovery from the first global recession since World War II.