Crude Oil Climbs Ahead of German Vote on European Bailout Fund
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Oil climbed in New York, paring its biggest quarterly drop since 2008, as investors speculated that German lawmakers will approve a measure to expand a euro-area bailout fund, supporting economic growth and fuel demand.
West Texas Intermediate advanced as much as 0.7 percent after dropping 1.9 percent earlier. German Chancellor Angela Merkel is seeking support among her coalition lawmakers for the vote today to expand the European Financial Stability Facility. Oil in New York pared its earlier decline after falling to technical support levels.