Oil Rises for First Day in Three in London on Egypt, Equities
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Oil rose in London for the first time in three days on concern that political upheaval in Egypt remains unresolved and may threaten supplies of crude from the Middle East.
North Sea Brent traded around $100 a barrel, extending its premium over futures in New York to the widest in three days. Hedge funds had raised bullish bets on oil by the most in eight weeks on concern the unrest would spread. Oil recouped earlier losses today as equities climbed for a fourth day in Europe on growing signs of economic recovery.