Oil Rises After Bernanke Says Fed Has Additional Stimulus Tools
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Crude oil rose after Federal Reserve Chairman Ben S. Bernanke said growth will resume and the central bank had tools to stimulate the economy.
Futures rebounded from a drop of more than $2 a barrel and stocks climbed after Bernanke said U.S. growth is safe in the long run and the Fed still can aid the recovery. Oil fell as much as 2.8 percent when he failed to announce new stimulus at Jackson Hole, Wyoming, where a year ago he disclosed that the Fed would spur growth through Treasury purchases.